An effective compliance program has a critical impact on an organization’s ability to operate with integrity, consistency, quality and maintain trust and credibility with organizational stakeholders including customers, partners, vendors, employees, and investors. It is also an important component of an effective risk management program.
When I was leading IT security and compliance engagements at a Big 4 firm, I helped many companies in the technology, fintech and financial services space design internal control environments to safeguard their information systems and data. I also conducted assessments of my clients’ internal control environments, to help them strengthen and streamline their risk posture. My clients asked me all kinds of questions that really revolved around one theme: At the end of the day, how do I make sure that what we’re doing as an organization is actually effective in mitigating the risks that matter?
In this article, I will discuss four key characteristics of an effective compliance program, why each one is important, and how these elements can be achieved. If your compliance program has these elements, you can be confident that…
