ContinuitySA becomes Platinum Patron of CGF Research Institute

ContinuitySA (CSA), a long-time subscriber to the Corporate Governance Framework Research Institute (CGF), has upgraded its alliance to the level of a Platinum Patron of CGF.

The CGF's stated goal is to ensure its “products and services are designed to assist organisations in achieving the objectives of entrenching and complying with appropriate corporate governance practices”.

“Globally, corporate governance has emerged as a discipline that needs to be thoroughly understood by the entire business community, in order to shape each organisation's future strategic direction and guide operational conduct,” says Derek Taylor, business development manager of CSA. “Our strategic alliance is regarded as key to both parties, given the ever-changing governance, risk and compliance (GRC) landscape in which the companies operate.”

Within the GRC landscape, it is becoming increasingly important for companies to recognise the critical importance of ensuring that their business can withstand any form of disruption and that the continuity of the business is not threatened.

While there is no specific reference made to business continuity management (BCM) in the new King III or the new Companies Act, both are clear that the board is responsible for the process of risk management. Businesses that take enterprise risk management seriously understand the fundamental role that business continuity management plays in sound corporate governance practices. It is, after all, about being prepared for any form of business disruption and keeping stakeholders satisfied that the existing and potential risks are contained.

The element of BCM has therefore become an essential component within the company's strategic plan to ensure its sustainability. Furthermore, BCM needs to be practised; it must take into consideration all aspects of a company's operational affairs as well as meeting the legislative requirements expected of companies.

“Business continuity management plays a key role in the GRC environment and it makes sense for us to be in a position to assist clients and prospective clients in understanding the importance of business continuity and the role it plays in sound corporate governance,” adds Taylor.

Taylor is of the opinion that many CEOs don't understand the true value BCM brings to an organisation. Often seen as a 'grudge spend', BCM can increase the value of a business not only from a sustainability perspective, but also the way in which an informed investor will assess the business when interested in taking a stake in the company.

“Through the CSA and CGF alliance, many companies will become aware of business continuity management as we promote its strategic imperative to those companies and executives that are attuned to the importance of this topic, “says Terry Booysen, CEO of CGF.

“Our Platinum Patron status will be a means to align our service offerings with the latest trends in the GRC environment. Our future engagement with current and prospective clients will require us to be seen as proactively addressing these changes that affect all businesses with the advent of King III and the new Companies Act,” concludes Taylor.