Today’s compliance teams face an ever-growing and continuously changing tangle of regulatory obligations. Compounding the issue, compliance teams are chronically understaffed.
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Companies’ struggles to comply with the California Consumer Privacy Act offer a timely example of the challenges when implementing compliance programs. What can we learn from the issues CCPA compliance spotlights? What do they tell us about the ways companies approach and measure compliance, and the additional challenges of managing compliance processes manually?
Today’s compliance teams are marching bravely toward their destination — but for many, the sky is cloudy and overcast. They operate in the dark, lacking benchmarks. And predictably, they tread in circles. Which is why automation has become so tremendously important.
Much is said about the hard skills in compliance such as project management, measurement, and increasingly, software acuity. But too little is said about the fact that sometimes, it takes more than that. Sometimes, no amount of paperwork can convince a bad actor not to act, or a neutral actor not to stray.
The Dept. of Justice issued new guidance on evaluating corporate compliance programs. Now is the time to assess if yours meets expectations.
Compliance is a non-negotiable part of modern business life. But simply putting in place structures and processes to manage compliance is not enough; you also need to provide evidence you have implemented – and follow – these procedures. That’s where compliance audits come in.