How To Move From Reactive To Predictive Compliance

Compliance in many organisations is reactive rather than proactive, and perceived as a necessary evil to stay in business. More sophisticated organisations who place a higher value on compliance, however, are using the data from compliance audits to gain competitive advantage and mitigate risk exposure.
Compliance data, when collected correctly, is rich business intelligence and offers invaluable insight into internal and external business process, performance and control metrics. Digitised compliance monitoring systems are a necessity to gather this information in real-time, which is the only way this application of the data is effectively possible. The result of this forward thinking application of data is a state of “predictive compliance”.
Today we consider how real-time audit data can allow businesses to predict and prevent future compliance risks.

Transparent Audit Results, Compliance Engagement and Workplace Safety

Workplace health and safety can be a dull topic for employees, in most cases truth be told, but that doesn’t make it any less important. The challenge for management and compliance officers is to create engagement in this area for everyone involved, so that improving work safety becomes a regular part of a team’s goals.
In this article, we look at how companies can get employees engaged in compliance measures, to create a safer work environment.

The Future Of Compliance In The World Of Disruption

The key buzzword for business over the last decade has, without question, been “disruption”. A disruptive company, product, or service is one that brings an entirely new angle and vision to an existing industry, and when they do they make waves amongst both the current industry players and the governments that regulate them and their industry.
In this article, examine how new and disruptive industries and services are challenging regulation and compliance bodies.

In Compliance, Big Salaries Come With Big Risks and Responsibilities

Compliance has become a huge industry, partly out of wanting to simply do good business, but mostly out of the necessity of complying with ever-increasing rules and regulations from governments and other regulatory agencies.
In response to the new demand, companies are now paying hefty salaries to compliance officers. As with all things, however, great rewards come only from great risks and responsibilities.
In this article we explain why Compliance Officers are earning higher salaries and why they are personally at risk for non-compliance.

FIFA, Corruption and Sports Governance

The world’s most popular sport is facing a crisis of confidence, and not without good reason. What started as an investigation by the United States Department of Justice into bribery concerning broadcast rights, has become a full scale investigation of FIFA as a whole.
Swiss authorities began looking into bribery charges concerning the 2018 and 2022 World Cup bidding process within hours of the broadcasting scandal, and at least 14 officials and marketers for FIFA have already been indicted for corruption.

Oversight and Audits are Necessary to Remedy Game-Fixing Plague

The recent FIFA scandals have put the spotlight on corruption in sport, and we have been pointing out that in this situation, as with any similar problems in business or other organisations, good governance and ensuring proper compliance are key in minimising the issues.
But while the scandal of the day concerns bribery, there is another issue in global sports that has much stronger roots: the problem of game-fixing. In other words, players purposefully losing a game, holding back on their play, or otherwise disregarding fair play in return for money.
In this article, we discuss how game-fixing facilitated by online betting can be curbed, using a three-pronged compliance approach.

Risk Management Doesn’t Mean Risk Aversion

There is a disconnect in today’s businesses that is causing significant losses in market value. That disconnect is shown in two ways. First, many companies equate risk management with risk aversion. That is, instead of actively monitoring and measuring the risk controls they put in place, they are simply setting the controls in place for maximum risk avoidance and then letting them ride.

Earning China’s Trust through Auditing and Compliance

If you were to try and imagine a new business opportunity that could literally double or triple your revenues quickly (or more), most business owners would get fairly excited. Opportunities like that don’t come along very often, but a great deal of Australian business owners are now looking head-on at one later this year.
The free trade agreement with China that will come into effect by the end of 2015 will undoubtedly affect many different industries over time, but the fresh food industry is first in line to reap big rewards.