Compliance is the culture and discipline necessary to demonstrate risk is being competently managed. It is the organisational fabric that ensures risk is always within the control of management and includes such things as:
- clearly defined and communicated strategic and business unit plans and priorities
- concise, relevant and frequent business and market reporting
- comprehensive, consistent and contemporary management and operations policies
- regularly reviewed, revised and well-documented Standard Operating Procedures
- targeted, flexibly-delivered and stimulating staff training and skill development programs
- adequate, effective and timely resourcing, organisation and management action
- active encouragement of staff and management awareness, education and contribution.
Compliance is effective management practice directed at a specific area of risk to the business.
We use Australian Standard AS 3806-1998 Compliance Programs as the basis for developing effective compliance programs. We take identified and agreed risks within your business environment and develop action plans that ensure your management practices regularly and effectively keep those risks firmly within your control.
We work with you to implement the plans and to put in place regular measures and control points that ensure continuing compliance.
Our compliance programs meet the standard generally accepted by courts as sufficient to support a due diligence defence against an alleged breach of regulatory requirements.