Compliance Risk Assessment
A compliance risk assessment ensures focus in your compliance agenda and helps you keep your risks manageable.
A compliance risk analysis helps you to direct the activities of your compliance function. The results provide insight into the extent to which you comply with laws and regulations and the risks you run in the event of non-compliance.
By identifying these risks at an early stage, you are able to take control measures. The compliance risk analysis ensures focus in your compliance agenda and helps you keep your risks manageable.
What we do
Our compliance specialists can help you perform compliance risk assessments. We take the following structured steps:
- Determine the legal framework
- Assess your specific circumstances
- Identify the risks of possible non-compliance with laws and regulations
- Analyse the risks (probability and impact)
- Assess the control measures
- Depending on your risk appetite, we will determine additional control measures and follow-up
The results of the compliance risk assessment are used as input for the activities of the compliance function. Not only for the risk-based monitoring plan, but also, for example, for providing training if the analysis shows that awareness can be improved.
Performing compliance risk analysis with Ruler
Performing a risk analysis becomes a lot easier if you use our compliance software Ruler. Ruler provides insight into your organisation’s legal framework and offers an overview of the standards set for your organisation. You can then easily make a risk assessment for each subject, and draw up measures to control the risks.
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