Compliance departments are usually staffed with lawyers and accountants. Lawyers because of their expertise in the legal domain, which is a necessity for interpreting and enforcing compliance. Accountants because their technical exper...

What is a policy and procedure manual? A policy and procedure manual is a codified document that outlines all the necessary policies, procedures, SOPs, best practices, and rules that the employees of the organization have to follow. ...

The GRC market may be worth more than $64 billion in 7 years according to a report by the research firm Grand View Research. Unsurprisingly, BFSI is leading the charge. BFSI accounted for most GRC adoptions and implementations, follo...

Continuous compliance is a new approach towards compliance aided by GRC platforms. There are two approaches we can take when it comes to risk and compliance. One is the normal approach which has been historically used in which complia...

Every business is aware of the importance of regulatory compliance, yet we often hear about compliance violations and huge fines being levied on organizations by regulatory bodies. Enforcing regulatory compliance is a complicated tas...

Compliance is a core component of all organizations regardless of their size. There is, however, a major difference in how compliance affects small businesses and how it affects large businesses. There is a huge imbalance in the resou...

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry of Australia has released its interim report, and it does not look for the banking industry. The focus of the report is on how many ba...

No professional needs to be told the importance of risk management – any business will have risks that need being managed. Businesses in the financial industry are concerned about risk the most, along with other businesses in s...

Vendor management systems are quickly becoming a mainstay in the corporate world because of the many benefits that they provide. Let’s look at the vendor management process and the benefits it provides for management and the organiz...

Today's business climate is more complex and more challenging than ever before. As time goes on, regulations become more complex and more detailed. The financial industry’s innovation easily outpaces the regulatory bodies,...