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Recent high profile examples of companies who have been fined millions due to non-compliance have once again underscored the need for organisations to look at how they approach matters of governance and compliance.
According to a 2019 survey of the internal audit profession, organisations saw regulatory change and compliance as the second biggest risk they faced, after cybersecurity and data protection. This is not surprising – left to look after itself, compliance can become a very reactive process and what we might call ‘reactive compliance’ can have a negative impact on organisational strategy.
Taking a more proactive approach to governance means getting on the front foot, anticipating and preparing for what’s coming up on the regulatory agenda. It means significantly reducing the amount of reactive compliance, mitigating risk and protecting the business and its customers.
In this webinar our speakers explored why organisations are working reactively, why that’s a problem and how they are shifting towards a more proactive approach to governance.
Michael Nyhuis, Managing Director of Diligent Compliance.