Compliance exists when an organization meets its obligations – and becomes sustainable when embedded in the corporate culture as well as the behavior and attitude of the staff. To maintain its independence, compliance management should optimally be integrated in the organization’s financial, risk, quality, environmental, health and safety management processes as well as their operational requirements and procedures.
- Meeting increasing expectations regarding the scope of compliance from senior management, the supervisory board and/or audit committee with less budget and personnel resources
- Tapping new areas that require highly specialized expertise (e.g., cybersecurity audits)
- Positioning the compliance organization as trusted business advisors that help define and improve processes, procedures and guidelines – and not as internal police.
- Adjusting skill sets to new technologies and areas of expertise (e.g., AI, cybersecurity and RPA)