Introduction to Statutory compliance

Statutory compliance within any business environment concerns the legal framework within which your business should operate. Your company is required to comply with certain laws and regulations pertaining to its working environment. Serious stuff.

At MGI Bass Gordon, our Statutory Compliance team offers you a holistic, integrated approach to compliance, governance, and company secretarial services. Get to know the dedicated trio in this short interview and come to understand the many ways they help your business adequately measure and manage the risks it faces.

With a powerhouse of experience, David, Sabrina, and Leana employ precision and meticulousness to protect your business. Simple as that.

David, what is the number one difference you feel you and your team make for your clients?

We go beyond the call of duty to get things done properly and quickly. And by doing things quickly – when we say we’re going to do them – our clients enjoy complete sense of ease. It’s this level of integrity that sets us apart.

I am concerned my business doesn’t meet the required statutory rules or standards. I am fearful of fines and other legal repercussions. How can you help me navigate this predicament?

If you’re a new MGI Bass Gordon client, our Statutory Compliance process is geared for your ongoing peace of mind. As a take on procedure, we thoroughly inspect your company records, the CIPC data base and minute books, agreements, as well as any outstanding annual returns with CIPC to ascertain your level of compliancy. We highlight anything missing or needing amendment, then take the required steps to align all your statutory documents with the Companies Act.

Should you currently be our client, we keep up to date with all legislation and regulations, taking immediate action to ensure your business complies with any changes. Whatever the situation, we meet you where you are – then swiftly guide you towards where you need to be.

Taking preventative measures for my business can sometimes feel like a hassle. How will you help me embrace corporate compliance – and how do I inspire my team to follow suit?

Overlooked, disregarded, and ultimately viewed in a very negative light, corporate compliance is a headache for most businesses. By helping you embrace the process, we believe that the first step is simply accepting that certain things just need to be done, whether enjoyable or not. The second step is realising that our team is at the ready to ease your burden considerably.

Effective risk management is the cornerstone of any successful business – and compliance plays an integral part. By understanding its benefits instead of fearing any non-compliancy fines and penalties, you’ll inspire your team to embrace a “do the right thing” philosophy. Best of all, we at MGI Bass Gordon do everything in our power to make compliance easy.

Sabrina, what makes you passionate about statutory compliance?

I’m passionate about compliance, quality, accuracy, and service excellence in general, so working in MGI Bass Gordon’s statutory compliance division is the perfect place for me to utilise these passions for the benefit of my clients and team.

How does technology feature in your department? As your client, what is the most important thing I should know relative to this technology?

Adequately trained, our team employs advanced software to maintain your statutory compliance information. Using various reports that assist with tracking tasks like CIPC Annual Returns, we ensure that nothing falls through the cracks.

We recently undertook a mammoth exercise whereby our entire hardcopy library of statutory compliance records was electronically scanned, every document now available at the touch of a button. By adapting to the current age of remote working, we’re able to attend to client requests without delay, even when working out of office. (Of course, we still retain all hardcopy documents as required by legislation.)

Leana, which two personal strengths do you employ in your work at MGI Bass Gordon?

Firstly, as a problem solver, my 18 years in statutory compliance have taught me resilience and creativity. In the case of onboarding a new trust client with a lifetime of unchanged trustees and a trust deed incorporated more than 50 years ago, I’m compelled to think outside the box for effective service solutions.

Secondly, as a people’s person, I enjoy forging sound working relationships with my peers and clients. This means liaising promptly, attending to queries, and assisting even when requests are outside of my ambit.

How does your team dynamic influence the quality of service you offer?

We just “click”. Having worked together as a complete team for seven years now – some of us together for a decade – we’re likeminded, goal driven individuals who appreciate and respect each other’s input, strengths, and weaknesses. Known as the “Dream Team”, we work incredibly well together, delivering exemplary levels of client service through our shared perfectionism.

By following set procedures and standard formats for all tasks, our work leaves the department with the same look and feel. This allows team members to jump in and assist with a singularity of purpose, ultimately rendering our clients smooth and seamless service.

With the rapid change in legislation and regulatory guidelines, how do you keep pace and ensure my business’s statutory compliance is up to date?

We keep a constant watch on CIPC’s website where changes are communicated. When notifications from SAICA and other regulatory bodies are received, as well as any updates from our network of contacts, we take immediate action.

Committed to providing up-to-date and accurate client service, we love to learn new skills whenever possible, ensuring we always get adequate training.

As your client, what are the two most important questions I should be asking that I am not?

Do I take corporate compliance matters seriously enough?
Do I really know what my duties and responsibilities as a director/trustee are?

To experience exactly how we make business personal at MGI Bass Gordon and the many innovative ways we’ll meet your statutory compliance needs, start the conversation with David today: +27 21 405 8500 or send an email to info@bassgordon.co.za

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