COMPLIANCE RISK

Compliance risk is the extent to which compliance is being achieved. It is a measure of the health and effectiveness of a compliance program.

We undertake compliance risk assessments to give you assurance that your compliance programs directed at managing specific risks are relevant and adequate in ensuring no surprises are just around the corner. We look, for example, at the following questions.

  • Are the risks faced by your business well understood, monitored and regularly reviewed?
  • Are your policies, practices and procedures current, relevant, documented and used?
  • Are your staff informed, alert, supportive and willing to contribute at every opportunity?
  • Are your business plans made with full regard for the implications of identified risks?
  • Do you have systems in place that ensure you of early warning when risks are out of control?

We base our assessment of compliance risk on:

  • the nature, likelihood and potential implications of the identified risks to your business
  • the good practice guideline of Australian Standard AS 3806
  • our collective experience as senior executives and advisers.

We provide you with detailed analysis and advice on the quality of your compliance arrangements and the need for any remedial actions. We then work with you to ensure any compliance risks are eliminated.

Our independent substantiation of your compliance activities within the meaning of the Australian Standard makes it possible for you to withstand the toughest of due diligence examinations.

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