If you think compliance is expensive – try non-compliance.

Across corporate South Africa, countless local and international regulations govern your business operation and are in place to ensure that commercial entities act in a reasonable and responsible manner. But with the abundance and complexity of regulations, and the fact that they change rapidly, many businesses tend to treat compliance as a secondary function with little consideration of the consequences. This is a narrow view of looking at compliance. In addition to penalties such as hefty fines and trade sanctions, you could face:

Criminal Charges

No director or board member wants to face criminal charges for not ensuring that their enterprise adheres to the law. However, regulatory non-compliance in areas pertaining to staff management, workplace safety, marketing, supply chain, corporate governance, stock management and due diligence laws could result in jail time.

Reputational woes

Public image is key to business success. When a company is thrust into the public eye for failing to comply with regulations, there are reputational repercussions, which eventually lead to distrust. Once that happens, loyal customers may leave, new customers may be put off and potentially beneficial partnerships may never develop.

Loss of lucrative opportunities

South African businesses are required to meet a host of regulations if they wish to do business with the government or any of its parastatals. Non-compliance across your enterprise and business network could result in exclusion from the tendering process and supplier database. In addition, companies that place value on corporate compliance may avoid doing business with you as they would want to ensure that they meet their own regulatory obligations.

Imagine having a solution with over 30 practice areas developed to give you the critical legal know-how to accomplish the most complex compliance tasks, including those outside your primary area of expertise.

With Lexis Practical Guidance, your business team doesn’t have to worry about missing out on the latest updates or legal processes affecting their department or organisation. With easy online access, Lexis Practical Guidance offers:

· One online platform, removing the need for time-consuming searches across multiple resources

· Practical advice on points of law and follow-up actions

· Expert-driven guidance notes and aids on practice and procedure in various courts

· Downloadable checklists, forms and resources designed to save time and energy

· Deeper research and commentary through links to Lexis Library