Culture of Compliance

The governance, risk, and compliance market keeps increasing in size and is projected to become a $64 billion dollar industry by the year 2025. This growth is fueled purely by multiple factors which all increase the demand for GRC solutions. Some of these factors…

Simply creating policy and procedure documents on Microsoft Word and publishing them as PDFs isn’t enough. Policy and procedure documents are a reference guide for the whole organization – they need to not only be helpful, but also be maintained. There are…

Vendors are an integral part of doing business, but they increase risks of non-compliance. Businesses are responsible for any non-compliance in their own services even if the non-compliance was committed by a vendor. It is the responsibility of every business to ensure that every part of them

Small and big businesses operate in the same environment under the same laws but the practicalities and realities of doing business are very different for them. These differences exist in vendor relationships as well. Big businesses generally deal with big vendors who can provide them supplies, materials, and services…

Business policies are an important tool to ensure that the business operates at maximum efficiency. Written in these policies is the blueprint for the whole organization’s expected behavior, role, and reporting. Properly defined and explained business policies can result in smoother operations, because everyone understands their own…

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 expertise in the matters of finance and record-keeping were necessary for compliance work. However, over the past few…