Why did we team up?
The need to establish an association arose spontaneously, in the epicenter of the Compliance profession, where the bearers of corporate values were often isolated, criticized, insufficiently understood and supported. On the other hand, modern business is accompanied by various risks, the most sensitive of which have their roots in the violation of ethical principles. Affaires that negatively affected the reputation of corporations in the past decades are true indicators of the need for continuous investment in Compliance, development of adequate lines of defense and internal control systems. At the same time, the academic community is aware of the fact that business ethics is insufficiently established as a separate scientific discipline and that, regardless of its current form, further “hybridization” of the Compliance function with certain disciplines such as company law, accounting forensics, organizational science, etc.
Dynamic changes in the environment, primarily in terms of regulatory and technological complexity, have further accelerated the awareness of the need for everyone to have access to education in the field of Compliance, regardless of the area of business they come from, to have the opportunity to exchange experiences, practical knowledge, influence the regulatory framework in terms of its improvement, as well as further development of the Compliance function.
The ultimate goal of the process of association around the idea of responsible and honest business should be a higher level of corporate culture based on a change in awareness of economic factors. Despite the fact that there are still many open questions regarding how to measure corporate culture, it has become clear that the absence of fines and sustainable business can serve as a sufficient indicator in this sense.
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For this specific goal, it is necessary to expand the community of Compliance professionals, in order to include common problems in different areas of business, provide additional education to those who need it, form capacity for lobbying in order to properly implement regulations, develop cooperation between the public and private sectors, etc. .
Additionally, taking into account the direction of the development of social awareness and the obligations of business entities, it is to be expected that a wider circle of the population will be familiar with relevant Compliance topics, with a special focus on young educated individuals who are interested in developing their career in a new, at this moment still always in an unexplored direction.
Because of all the above, the founding members dared to start the mission and define the goals of the Association in the direction of the general social good.
About the association
The Association for Compliance in Business is a non-profit and independent professional association, founded in 2018. in Belgrade, which brings together and voluntarily joins natural and legal persons, for the purpose of developing and promoting business ethics, compliance and corporate culture as necessary prerequisites for the successful and sustainable development of every company, market, and society as a whole.
The association gathers individuals and companies that advocate for the establishment and respect of a fundamental value system in everyday business.
Acting in this direction, the founders, members, partners and associates of the Association recognized the fact that a multilateral and multidisciplinary approach to the principles of fairness, transparency, conscientiousness, good customs and fair relations between companies would also make a significant contribution to other spheres of social life.
Objectives of the association
Promotion and improvement of business ethics, compliance and corporate culture
Strengthening the Compliance community and establishing a forum for the exchange of information, ideas and good practices
Quality education on business ethics, compliance and corporate culture
Contribution to the development of regulations and standards in the field of business ethics, compliance and corporate culture
Aligning the market with the best practices of developed international markets
The goals of the Association are achieved through various activities that the Association and its members continuously carry out, which are reflected in the following:
Participation in the drafting of all acts in the field of business ethics and business compliance
Lobbying domestic and international working groups and regulatory bodies on business ethics and business compliance topics
Participation in projects in accordance with the goals of the Association
Cooperation at the professional level in the Republic of Serbia and the region, with individuals and organizations
Organization of professional seminars and workshops
Publication of professional magazines, books, opinions and professional articles
Cooperation with universities and schools
Organizing a forum for member discussions
Promotion of the most current topics and projects through internet presentations and social networks
Awarding of awards and recognition for contribution to the goals of the Association
Association partners
In achieving its goals, the Association cooperates with various associations, institutes, educational and scientific institutions and other subjects in the country and abroad.
This cooperation implies joint action and support in the implementation of specific projects and activities, but also general support for the improvement of Compliance culture and ethics in business, and the promotion of the role and importance of the Compliance function in companies.
In order to properly respond to the lack of quality formal education for Compliance professionals, the Association for Compliance in Business and the Faculty of Law of the University of Belgrade have signed a cooperation agreement with the aim of designing and implementing educational programs that will offer a new concept of education in these areas.
On the basis of the signed cooperation agreement, as the first joint activity of the Association and the Faculty of Law, a study program was created in the form of studies for knowledge innovation “Business Compliance”, which was successfully implemented in 2023. year. Also, this contract provides a valid basis for further development of the study program, but also further cooperation on the design and implementation of educational programs in various forms that will meet the needs of individuals, companies and markets in the country and region.
In March 2023. In 2008, a cooperation agreement was signed between the Association of Banks of Serbia and the Association for Business Compliance. The formalization of good relations between the two associations through the signing of this contract enables the further improvement of the existing cooperation and at the same time provides the foundation for the further development of mutual support and cooperation during the organization of events and education in areas important for Compliance.
The goal of this long-term cooperation is to work together to raise ethical standards, good business practices, responsible business of our members, international connection and professionalization, but also to be a better support to each other in the implementation of research and projects, exchange of information and knowledge, but also implementing initiatives to improve the legal framework that will enable the further development of the Compliance function in Serbia.
CFA Institute is a global association of finance and investment professionals that sets the standard for professional excellence. The organization aspires to be a champion of ethical behavior in the investment markets and a respected source of knowledge in the global financial community. The goal of the CFA is to create an environment where investors’ interests come first, markets function in the best possible way, and the economy grows. A network of more than 160 associations around the world helps implement the global mission in local markets, which is to create value for investment management professionals and engage in the investment industry to advance ethics, market integrity and professional standards of practice, which together contribute value to society.
These are precisely the points of connection with the mission and goals of the Association for Compliance in Business and the direction of development of further cooperation between the two associations.
Code of Responsible Business
The Code of Responsible Business (“Code”) represents the Association’s code of ethics, which promotes universal values and behaviors in accordance with those values, and which can be applied in all economic entities, regardless of size, industry and business sector. The goal of the Code is to contribute to transparent and
