The Most Important Compliance Best Practices You Need to Know

The goal of all of the increased Governance, Risk and Compliance (GRC) requirements is to build greater investor confidence in public companies. And to bring back and build greater confidence, build a culture of integrity in internal controls. The article will teach you how you can build a culture of integrity by following a few simple steps.

The much criticized AS2 that US companies followed under Sarbanes-Oxley’s Section 404 has finally been replaced by AS5. But, is this replacement going to improve the scenario? Let’s explore the new standard and compare it with AS2 for a better understanding.

EuroSox is the EU directives which came into force from 2008/9. Through implementing the directives, company can develop a strategic opportunity to control the regulatory parameters. The present article details the components or regulatory vehicles of the EuroSox which aim to restore investor confidence in the EU.

Financial Institutions are vested with the responsibility of running a clean and fair business. Factors that drive business continuity are

• Well managed risks
• Better customer relationship
• Accurate and consistent reporting.

Compliance with regulations helps them in achieving this. Though compliance requires time, it will be time well spent. A well defined vision and well concerted effort will give the desired results. The plan should aim at minimizing risk, minimizing costs and maximizing the results. So the implementation should be phased and choreographed well to achieve all intended goals. More on the various options available read on

Security professionals should view the emergence of SOX as an opportunity to rise as key-enablers of creating a sound business environment. SOX provide this opportunity to companies which are already public or private companies outside the mandate of compliance to build strong business environment. SOX highlight the importance of information security by emphasizing the importance of business critical systems. This gives rise to the need of security monitoring and reporting. How best such an effort can be executed is best described in.

“The right tools and attitude can turn compliance into competitive advantage via process change”.

Overtime organizations are realizing opportunities of not just reducing cost of compliance but also of the overall operations. Experts feel that SOX can act as a catalyst for change that leads to competitive advantage.

More on the approach for realizing the benefits of streamlining processes and the best practices to be adopted read on