Compliance can be applied in a structured way in 6 steps.
1. Risk analysis: Identification of risks and legal requirements
Every compliance analysis will usually begin with the identification of the general and sector- or company-specific risks in which the company operates. In doing so, the legal framework conditions and the resulting compliance requirements are to be determined.
2. Status analysis: Current compliance status
After the risk analysis and the determination of the resulting legal requirements, the compliance status of the company must be determined, i.e. which regulations and assurance mechanisms are already in place in the company.
Based on this, a target state can be defined.
3. Creation of a new set of compliance rules
Whoever decides to create a new or additional set of rules after the status analysis should first clarify who will be entrusted with the formulation and implementation and which persons must and should be involved.
4. Implementation of the compliance rules in the company
When implementing the new compliance regulations in the company, the values must be exemplified and lived in the company.
5. Mechanisms to ensure adherence to compliance rules
Whistleblowing of compliance violations is an important aspect. A special compliance officer or a compliance board may be able to help..
6. Contingency plans for compliance breaches
After all, it can never be ruled out that compliance violations will occur in a company despite the utmost care. The processes in such a crisis must be clearly structured and defined.