ICC Qatar Highlights Principles, Practices of Integrity, Compliance

Doha: The International Chamber of Commerce Qatar (ICC Qatar), in collaboration with Ernst and Young (EY), organized an event under the title 'One Size Does Not fit All: Tailoring The Integrity and Compliance Solution' at Qatar Chamber's premises. The event's main goal was to provide the audience with insights and strategies related to building a fit for purpose compliance framework, best practices, recent compliance regulatory and technology trends, and effective instruments of compliance monitoring. The event gathered many participants from different sectors in Doha; Insurance companies, Banks, Consulting Companies, Universities, Law Firms, Exchange Companies and Logistics Companies. The participants stressed that having a robust compliance program can help business to mitigate potential wrongdoing, protect reputation and reduce or even avoid regulators' fines and penalties. Representative of EY, Dhritimaan Shukla said that "integrity is the foundation of trust which in turn builds better organization s," adding that compliance should work along with business, and constantly transform itself in order to cater the needs of the evolving business and regulatory environment. For her part, Director of Forensic and Integrity Department at EY, Kseniia Neboga said that "a Compliance Officer serves as a strategic advisor, entrusted to steer the organization towards decisions that align with its mission, vision, and values, while adhering to the significant compliance obligations that govern its operations." She also pointed out that identification of compliance obligations and risks is centric to constructing a robust compliance framework, adding, "this framework is not a singular endeavor but rather an ongoing journey, reliant on continual top management support to foster a culture of ethics and compliance throughout the organization. Source: Qatar News Agency