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Austria’s Largest Conference Centre Emphasizes Compliance Risk Management

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Located in Vienna, the Internationales Amtssitz- und Konferenzzentrum Wien, Aktiengesellschaft (IAKW-AG) manages and maintains the Vienna International Centre and operates the Austria Center Vienna. As a leading conference centre, IAKW-AG has underscored the importance of compliance risk management in its daily operations.

What is Compliance?

Compliance refers to adherence to all applicable laws and regulations by the company and its employees. It also encompasses observing generally accepted principles aimed at positively shaping the behaviour of business partners, stakeholders, and employees.

IAKW-AG’s Approach to Compliance

At IAKW-AG, compliance is an integral part of corporate culture and a vital component for long-term success. The company’s Code of Conduct serves as a guiding framework, outlining clear expectations and values that all employees are expected to adhere to.

Compliance Management System

To ensure continued compliance with these standards, the company-wide guidelines call for the establishment of a comprehensive compliance management system. This system is overseen by the Management Board, the most senior governing body, which is supported by a Compliance Officer.

Roles and Responsibilities

  • The Management Board oversees the compliance management system.
  • The Compliance Officer is responsible for implementing the compliance strategy and serves as the central point of contact for all compliance-related matters. The Compliance Officer operates independently to ensure the effectiveness of the system.
  • Risk owners are appointed and receive specific training to safeguard against compliance risks.

Regular Training Measures

To equip employees with the necessary skills to identify and address compliance-related issues, regular staff training measures are implemented. These measures include:

  • Identification and definition of potential compliance risks
  • Definition of processes to mitigate these risks
  • Appointment of risk owners
  • Specific training for risk owners