Compliance risk analysis

The effectiveness of the compliance function in an organization is measured using a compliance risk analysis. The emphasis of the analysis can be on administrative embedding or on continuous monitoring of the information infrastructure and/or applications.

Based on the findings of the analysis and the results of discussions about these findings with key officials, a more optimal compliance function can be developed and indicated how this can be achieved.

Compliance risk analysis, why important?

The results of the risk analysis are important for management because:

  • Indication of current situation: it provides an indication of the degree of compliance with legislation, agreements and/or policy requirements. It also provides an indication of the extent to which the organization is aware of the risk areas and risks of non-compliance.
  • Effectiveness and efficiency: an impression is created about the effectiveness and cost efficiency of the existing compliance function.
  • Insight and overview: there is an overview and insight into possible blockages to make the internal organization more effective and cost-efficient.
  • Reason for a compliance risk analysis: the reason for a compliance risk analysis on internal control and risk management can be internal or external. Based on this reason, the scope can be on the organization as a whole or only on the adequate functioning of the business compliance function.
  • Safeguarding Trust: Creating and maintaining trust with both business partners and the individual. The individual has control over the processing of their own (personal) data.
  • Savings through efficiency: optimizing the effectiveness and cost efficiency of control measures within your organization.
  • Transparent to society: being accountable for accountability to society about effective operation of control measures.
  • Change in supervisory arrangements: regulatory arrangements in legislation require companies and institutions to deliver a result instead of making an effort.

Our approach

A practical approach for performing a compliance risk analysis is to include a model of maturity levels of compliance function in the research. We could take the steps as follows:

  1. Determining the scope and scope of the investigation as well as the planning of activities & internal and external budgets in time, capacity and resources;
  2. Carrying out the planned activities;
  3. The report consists of a report of the existing situation in which the findings have been mapped out. The findings give rise to proposals for adjustments.

More information

Do you have any questions or do you need an appointment? Feel free to contact us on +31 0 (70) 392 22 09 or info@duthler.nl.