Compliance Management
Compliance refers to the lawful conduct of companies, their governing bodies and employees, and is an essential component of good corporate governance. Given their general responsibility for legal compliance and organisational management, board members and managing directors are obliged to ensure compliance with the law throughout the company – and are accountable for this.
We help companies implement a bespoke compliance management system. We generally follow a four-phase approach, tailoring the scope of the measures to your company’s specific needs and coordinating them with you:
- Analysis and assessment in the form of a Compliance Audits including an assessment of the structural, organisational and personnel measures that the company has already implemented in the context of compliance. The audit is based on the „maturity model“, according to which the company is classified in terms of its „compliance maturity“ on the basis of defined criteria.
- Risk audit to identify and assess the relevant compliance risks. Based on the company’s value chain, the risk audit is carried out with reference to the key business processes. In doing so, all regulatory requirements – such as laws, regulations, standards, internal policies, etc. – are taken into account. Once the risks have been identified and assessed, appropriate measures are devised to effectively manage the risks by means of a defined risk strategy.
- Based on the findings of the two audits, the customised solution will be developed and implemented Compliance Management Systems (CMS) for the company. The CMS covers key aspects such as culture, objectives, organisation and communication. As part of the process of establishing the CMS, measures are drawn up to ensure that the company and its employees act in compliance with the law.
- Implementation of monitoring mechanisms to ensure the long-term effectiveness of the measures introduced. Review of effectiveness of the CMS through internal audits and an annual review.
As part of phase three, or as a separate module, we raise awareness and provide training for managers and staff within the company (In-house training courses).