Compliance is a form of operational risk that evaluates your conformance with rules and regulations that are imposed by governments across many types of work disciplines, such as human resource management, safety, tax laws and the like. These add to the cost of running the Company where there is no option or variance allowed.
The risk of breaching rules and regulations is measured using risk criteria and helps the Company understand where managing rules and regulations vary according to the severity of the fees and penalties that you may be obliged to pay.
At CorProfit, we align Compliance under an overall ERM Strategy, ensuring that you incur the minimum resources and costs to maintain an effective Program of Compliance. This is integrated in Policies and Procedures and made relevant in your business processes.