Among the many crucial elements of effective compliance initiatives (internal reporting programs, policies, procedures, training, supply chain management, M&A, and more) are risk assessments...
GlobalCorporate/Commercial Law
What is our problem with compliance risk
assessments? Why do we struggle with them and once they are done,
why don't we use them effectively?
Among the many crucial elements of effective compliance
initiatives (internal reporting programs, policies, procedures,
training, supply chain management, M&A, and more) are risk
assessments – the intended foundational element of any
compliance program. Just ask any regulator or read any global
framework for an effective program and they all start with
effective and ongoing risk assessment initiatives. Everything
should be based on – and will be judged on – an
effective risk assessment that identifies areas of risk to be
addressed and remediated through said compliance program.
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