Standards & Regulations

Compliance Excellence

Regulatory compliance is the mandated process by which organizations adhere to external laws, regulations, guidelines, and industry standards.

These standards help to ensure all legal requirements are met across every level of operation.

It prevents severe financial penalties, legal action, and reputational damage while fostering stakeholder trust through documented and controlled business practices.

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  • Legal Requirements

    Ensure adherence to external laws and regulations.

  • Risk Prevention

    Avoid severe financial penalties and legal actions.

  • Stakeholder Trust

    Foster trust through controlled business practices.

How we can help

Maintaining compliance is often a "moving target" due to constantly changing global regulations, requiring technology and ongoing surveillance.

We can help you to be prepared for all eventualities and prompt questions regarding negative events – for example:

Negative
Events
This challenge is to provide a much more comprehensive and wide ranging level of independent assurance to senior management.
01

How to get senior management to take compliance seriously

  • Promoting the benefits of effective internal control
  • The directions of the board and senior management are implemented as intended
  • Operations and activities are carried out efficiently and meet their objectives
  • The assets used in an organization are not only properly accounted for, but also that they are used effectively and efficiently
  • Good internal control will also protect an organization and its staff against the temptations of dishonesty, fraud, and theft.
  • The opportunity cost of poor internal control
02

Compliance with policies and procedures

  • Developing and Documenting Policies and Procedures
  • Requiring policies and procedures to be regularly updated
  • Deploying Control Activities through Business Unit or Functional Leaders
  • Conducting regular and Ad Hoc Assessments of Control Activities
  • Inventory of Information Requirements
  • Validating Information from External Sources
  • Information from Non-Finance Management
  • Creating and Maintaining Information Repositories
  • Enhancing Information Quality Though a Data Governance Program
  • Identifying, Protecting, and Retaining Financial Data and Information
  • Adopts ISO 27000
03

Commitment to integrity and ethical values

  • Establishing Standards of Conduct
  • Leading by Example on Matters of Integrity and Ethics
  • Evaluating outsourced Service Providers, and Business Partners for Adherence to Standards of Conduct
  • Reporting and Taking Prompt Action on Deviations from Standards of Conduct
  • The need to review ethics – key steps
04

The monitoring process

  • Develop a baseline for effective internal control processes
  • Case study will be provided
  • Have a mix of evaluations from different sources
  • Use the most knowledgeable personnel
  • Adjust scope and frequency
  • Change the monitoring processes as the business activities and risk profile changes
  • Develop metrics
  • Consider a continuous monitoring/audit approach
  • The psychological problem with highlighting deficiencies
  • The need to focus on benefits rather than problems
  • The need to drive action
  • Creating rapport with your customers – tips and techniques
  • The need to understand the people receiving the information
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