More often than not, when compliance falls through the cracks, it’s due to weaknesses in compliance controls. This may be because of a design flaw, an implementation error, or inadequacy in control testing or monitoring. Failing to update a policy or overlooking a minor regulatory requirement can cost you your sanity and an audit, resulting…
As you scale, the amount of people, processes, and technology you add to your infrastructure increases. This not only adds a number of risks into the mix but also creates an unprecedented level of compliance chaos. The emergence of GRC helps to close these gaps. This module heavily depends on certain metrics – KPIs, KRIs,…
The magic potion for visibility over compliance health, progressive refinement, and strengthened market confidence is compliance reporting. A tailored compliance report with the right key performance indicators (KPIs) and key risk indicators (KRIs) effectively demonstrates compliance commitment. Compliance reporting fosters a culture of transparency and responsible practices and contributes to an organization’s long-term success. Businesses…
As a business owner, maneuvering the tricky parts of legal frameworks, organizational policies, consumer standards, and international compliance regulations becomes a daily occurrence. Forward-thinking organizations know that several repetitive compliance activities are either low-impact or labor-intensive. They have, therefore, turned to automation to count on some out-of-the-box solutions and steer through compliance complexities with ease….
Sometimes, a region’s regulatory compliance rules can prevent businesses from entering a region. This was the case with Threads, Meta’s new social media platform. This uncertainty arose when it failed E.U.’s Digital Markets Act, which has rules about sharing user data across different platforms. This issue sets the stage for what we’re diving into in…
According to a compliance risk study conducted by Accenture, 93% of respondents agreed that AI and cloud compliance programs and tools remove human error, automate manual tasks, and prove more effective and efficient. Regulatory authorities bring new rules and policies into effect frequently, and the increasing complexity of the compliance environment demands that technology take…