Regulatory compliance describes the processes and practices that as organisation undertake to ensure that personnel are aware of and take steps to comply with relevant laws and regulations.
Due to the increasing number of regulations and need for operational transparency, organisations need to take a more structured and proactive approach to compliance and one that drive business value.
- Implement a robust controls framework
- Ensure processes and practices are in place to ensure compliance to regulatory obligations
- Strengthen the value of business assurance and internal audit to the business
- Respond effectively to FSA RMP and Section 166 requirements
- Meet regulatory obligations, including Sarbanes-Oxley, TCF, KYC and ICAAP
- Improve operational transparency
- Improve efficency and effectiveness of decision-making
- Reductions in regulatory costs and fines
- Enhanced and protection the organisation's reputation