Compliance
One of the lessons learned from the corporate reporting failures of recent years is that a narrow view of compliance was partly to blame. Compliance needs to be viewed as a natural extension of the governance duties shouldered by top management and corporate boards. Indeed, compliance is a governance matter in that only the firm's leaders are in a position to set the tone and establish the accountabilities by which a truly effective compliance function can operate. Moreover, only good governance can ensure that compliance is aligned with the company's business objectives and risk management strategies — and is thereby adding real value (and not just cost) to the organisation. Ultimately, the goal is to ensure that the spirit of compliance — as well as the letter of the law — is embraced in every corner of the enterprise.
If this is your situation
- You don't know whether your company is in compliance with regulatory rules
- Your company's compliance costs are out of control
- You need to plan for staff training in light of new compliance issues
- Proposed regulations might destroy your business or lead to a loss in competitive advantage
- You are concerned about the reputational risk from failing to comply with regulations
How PwC can help you:
For all organisations engaged in activities that come under the control of a regulator, PwC provides support, advice, and assurance to help you manage your regulatory risks. In an ever-changing regulatory environment, we help ensure that you identify, manage, and control any existing and future regulatory risks. A proactive rather than a monitoring approach to regulation is now a full time strategic necessity.
Our services include:
- Benchmarking regulatory compliance against industry peers
- Facilitating the assessment of your current regulatory risk profile
- Effectiveness reviews of current compliance departments
- Developing and implementing a risk-based compliance control framework and monitoring programme
- Help in establishing an appropriate compliance culture within your business
- Advice and assistance with getting your business authorised by a regulator
- FAIS compliance outsourcing
- Provision of compliance methodology and software.
