Send to its members a copy of its financial

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Send to its members a copy of its financial statements and reports, unless the member has a standing arrangement with the company not to receive them. Hold an annual general meeting once every calendar year within five months of the end of its financial year. 2. Compliance effects 2.1 Area affected From the document of charity-care case study, the areas that affected by compliance system can be listed below: 1) risk management policy 2) Sexual harassment policy 3) Credit card policy 4) Expense reimbursement 9
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5) Financial handling policy 6) Expenses policy 7) Equal employment opportunity policy 8) Work health and safety policy 9) Audit report There are many policies are documented, but there still remains some training and motivational issues in relation to implementing them appropriately. The compliance system that established will help these policies to improve. In the audit report, there are many issues that should be included in the audit report, in facts, those issues have not been addressed in the audit report. In a word, the issue are presented in the following areas: 1) Warehouse 2) Retail store 3) Counselling centres 4) Head office These areas have been found many misconducts, some operations those areas have done are not following the organisation principles. 2.2 Risks Compliance risk is defined as the risk of legal sanctions, material financial loss, or loss to reputation the Bank may suffer as a result of its failure to comply with laws, its own regulations, code of conduct, and standards of best/good practice. Compliance risk is sometimes also referred to as integrity risk, because a Bank’s reputation is closely connected with its adherence to principles of integrity and fair dealing. In this case, there is financial issues that caused by misconducts. Compliance risk management is part of the collective governance, risk management and compliance (GRC) discipline. The three fields frequently overlap in the areas of incident management, internal auditing, operational risk assessment, and compliance with regulations such as the Sarbanes-Oxley Act. Penalties for compliance violations include payments for damages, fines and voided contracts, which can lead to the organization's loss of reputation and business opportunities, as well as the devaluation of its franchises. 10
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2.3 Penalties A breach occurs when the law is not upheld; when: 1) an action is taken that places a person at risk of injury, illness or death 2) steps are not taken to avoid a risky situation from occurring 3) there is a failure to comply with regulatory requirements. There are three categories of offences for failing to comply with a health and safety duty under the WHS Act or an electrical safety duty under the ES Act, depending on the degree of seriousness or liability involved.
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  • Fall '19
  • Charity-Care

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