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Corporate Compliance Training Takes Center Stage in Serbia and Montenegro

Belgrade, Serbia - The Annual Conference of the Corporate Compliance Association, themed “Change of Perspective,” brought together over 180 participants from Serbia, Montenegro, Bosnia and Herzegovina, Croatia, and Slovenia to promote compliance in the region.

Event Highlights

• Supported by prominent organizations including the Association of Serbian Banks, the Chamber of Commerce of Serbia, and law firms Petrikić and Partners (CMS), Janković Popović Mitić (JPM), Radovanović Stojanović and partners (RSP), Moravčević Vojnović and partners (Schoenherr), Relio, Algotech, and Deurić winery.
• Featured lectures and panels on various topics, including the role of compliance in modern business, blockchain technology, artificial intelligence, ESG (Environmental, Social, and Governance), cyber security, and DORA (Digital Operational Resilience Act).
• Speakers included prominent compliance professionals from various companies and sectors, university professors, Big 4 consultants, lawyers, representatives of associations and regulatory bodies.

Key Takeaways

• The importance of corporate culture and ethics in business was emphasized, highlighting the need for a balance between profit and sustainability.
• Balancing risk and profit, ensuring adequate education at all levels of an organization, providing necessary resources and tools for implementing procedures, local implementation of EU standards and best practices, and management support were identified as key challenges.
• The use of new technologies poses new risks, with information security, artificial intelligence, and blockchain technology being highlighted as areas of concern.

Conclusion

• The Association for Compliance in Business recognized the crucial role of the state and state institutions in raising public awareness about the connection between business compliance and sustainability.
• President Miloš Bogdanović emphasized the importance of understanding the role and responsibility of compliance professionals, investing in education, mastering upcoming topics, and ensuring integrity and basic principles of the compliance function remain unchanged.

Next Steps

• The next year’s event has already been announced, promising another thought-provoking discussion on corporate compliance training in Serbia and Montenegro.
• Participants were provided with an opportunity to summarize their impressions and exchange ideas at a festive cocktail reception.