Regulatory compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that corporations or public agencies aspire to in their efforts to ensure that personnel are aware of, and take steps to comply with, relevant laws and regulations.
Due to the increasing number of regulations and the need for operational transparency, organizations are increasingly adopting the use of consolidated and harmonized sets of compliance controls. This approach is used to ensure that all necessary governance requirements can be met without the unnecessary duplication of effort and activities.
Regulatory Compliance is increasingly complex and potentially costly for today's business. Traditionally compliance efforts and assessments are paper-based, complicating the overall process and not allowing for comparison or identification of real deficiencies that could affect the day-to-day operation of the business.
Stakeholders, industries and Government are demanding greater accountability, and Civic Criminal Liabilities are on the rise. The number of regulations, policies, laws and standards that organizations must adhere to continues to grow and will continue for the foreseeable future.
Compliance Can Be Effectively Managed
To effectively manage compliance, management must understand the requirements and assure that their organizations are aligned to the business objectives and regulatory landscape. Once the overall view of the business is understood, a strategy can be developed and implemented. The key to the success often comes from ensuring all business disciplines and activities are identified and mapped.
For example, if a corporation wants to change a policy – what is the ‘knock on’ effect across the organization? Does the change in policy affect HIPAA, GLBA, SOX, and Privacy Laws? How do I identify these areas of concern? Compliance Mapper provides the view and information needed to ensure control in the areas of potential change.
Consult2Comply Can Help
Our teams consist of experienced compliance specialists. We know the rules, and have implemented and assessed compliance against them. We provide support at the strategic level - by maximizing any competitive advantages from regulation through the operational level and by minimizing the costs and disruptions to your business, which has the added affect of freeing up management time in the process.
Consult2Comply leverages a library containing hundreds of pre-built assessments to measure organizations against Regulations, Standards and Best Practices. We have created intellectual property tools that assist organizations in to quickly measure, maintain and manage compliance in their own environment.
Please contact us for more information on how Consult2Comply can help your organization.