Compliance risk management involves identifying, assessing, and monitoring risks to an organization related to regulations and industry standards. The return on investment in compliance can include operating more efficiently, competing more effectively, reducing costs, as well as mitigating risks.
When assessing compliance needs, today’s leaders should ask themselves five questions:
1. What are the most significant compliance risks to the business?
2. Who owns these risks?
3. What is being done to mitigate those risks?
4. Is the current compliance program working as designed?
5. How is the business measuring the effectiveness of its compliance efforts?
BDO’s new eBook, How to Get Your Compliance House in Order, guides you through the key steps to creating and managing an effective compliance program.
Download the eBook
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