The New Year is the perfect time for an organization to reevaluate its position regarding compliance regulations. In order to run an effective business, decision-makers must ensure that their management and employees are adhering to the proper rules and latest standards year to year, especially as regulations change. So it is no surprise that reports of compliance tips and laws are surfacing this month, particularly as the biggest conference surrounding compliance, Compliance Week, is being promoted in anticipation of the upcoming event this Spring.
While compliance may not be top of mind for some administrators, it is an essential part of running an effective and compliant organization. In fact, in a recent Compliance Week report, Matt Kelly referenced an interesting metaphor, comparing the chief compliance officer to a primary care physician, responsible for the overall health of the compliance program, yet enlisting in other specialists in other parts of the business such as legal, accounting, IT, internal audit, human resources, etc. to help keep a company running properly.