What is needed to progress an organisation’s compliance program?
Once businesses have identified the regulations and standards they need to adhere to, they will often;
- Review and document regulatory obligations.
- Define or use the specific controls from the regulations.
- Look to align and simplify regulations and standards into business or regulatory requirements, then define controls.
- Organisations should rationalise their control library to ensure controls meet multiple regulatory obligations. The compliance team can then test one control and demonstrate compliance against numerous regulatory obligations.
- Leverage in-house, bought (UCF), or free knowledge (SCF) that help to combine regulations and standards into single regulatory controls.
After the regulatory controls have been defined, the organisation audit or compliance function, depending on their size, will test the controls, undertake compliance monitory, and provide ongoing advice to the business.
Are you interested in learning more about SCF and meta frameworks? Then check out our webinar with the SCF Founder.