102. Compliance

Compliance Reporting

Systematic process of collecting and presenting data to demonstrate adherence to compliance requirements

Internal Compliance Reporting

Collection and analysis of data to ensure that an organization is following its own policies and procedures

External Compliance Reporting

Demonstrating that its following the policies and procedures of external entities such as regulatory bodies, auditors, or customers, often mandated by law or contract

Compliance Monitoring

The process of regularly reviewing and analyzing an organization’s operations to ensure compliance with laws, regulations, and internal policies

Due Diligence

Conducting an exhaustive review of an organization’s operations to identify potential compliance risks

Due Care

The steps take to mitigate potential compliance risks

Attestation

Formal declaration by a responsible party that the organization’s processes and controls are compliant

Acknowledgement

Recognition and acceptance of compliance requirements by all relevant parties

Internal Monitoring

Regularly reviewing an organization’s operations to ensure compliance with internal policies

External Monitoring

Third-party reviews or audits to verify compliance with external regulations or standards

Automation in Compliance

Automated compliance systems can streamline data collection, improve accuracy, and provide real-time compliance monitoring