Companies and organisations around the world are facing increasing regulation, making it more and more difficult to comply with all rules, regulations and laws in order to avoid potential penalties. So-called "compliance" is not only about criminal law, but also includes other issues such as data protection, corruption and fraud prevention, employment and contract law.
Comprehensive regulation therefore extends to almost all sectors. Moreover, the high frequency of regulatory changes and the lack of clarity in interpretation practice add to the threat of inconsistency. The way to counter these threats is through a functional compliance risk management system. Why should you address compliance?
- You will achieve compliance with legal and other standards.
- You will ensure that activities within the organisation comply with internal regulations.
- You comply with the requirements of contractual documentation.
A compliance risk management system allows you to clearly prioritise the management of your business and decide on the allocation of appropriate resources according to these priorities.
Compliance risk management should include a clearly articulated compliance programme. This is a set of rules and procedures designed to prevent legal and ethical violations and to stop corruption. A notable advantage of a functional compliance programme is the possibility of evolving from corporate criminal liability.
BDO helps companies and organisations design and implement practical and cost-effective solutions to manage compliance risks. We draw on our experience in both the private and public sectors. We are happy to support you in the following areas:
- Assistance with setting up a compliance programme and anti-corruption measures
- Whistleblower protection, whistleblowing and whistleblowing investigations
- Privacy and GDPR
- Anti-money laundering (AML) measures
- Insurance distribution (IDD)
- Identification, assessment, mitigation and monitoring of compliance risks
- Compliance audits
- Outsourcing compliance functions and data protection officers
- Trainings, e-learning and webinars