GDPR Drives Debate over Prescriptive versus Outcomes-based Compliance

compliance-strategyHere we look at the difference in prescriptive and outcomes-based regulations and which may be better for data privacy.
With GDPR now in full effect, many companies are scrambling to navigate issues the regulations have created for them, and one question is now being more pointedly discussed by many globally: is prescriptive or performance-based regulation better, specifically where personal data is concerned?.

The Challenges Facing Peak Bodies And Industry Associations — And How To Solve Them

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Peak bodies and industry associations are facing ever-changing and demanding compliance responsibilities. New laws, codes and regulations are making the compliance landscape ever more complex. Jurisdictions and mandatory inspection schedules are also increasing, adding pressure on already limited compliance resources. 

What Regulators Can Learn from Australia’s Ride-Sharing And Compliance Debate

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With business moving faster than ever in our digital age, disruptive companies and industries are offering consumers new and exciting options that have never been available before. At the same time, they are causing headaches for governments and regulatory bodies since legislation and regulations can’t seem to keep up with the speed of the changes. With regulations uncertain, compliance becomes a nebulous situation.

How To Move From Reactive To Predictive Compliance

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Compliance in many organisations is reactive rather than proactive, and perceived as a necessary evil to stay in business. More sophisticated organisations who place a higher value on compliance, however, are using the data from compliance audits to gain competitive advantage and mitigate risk exposure. 

Compliance data, when collected correctly, is rich business intelligence and offers invaluable insight into internal and external business process, performance and control metrics. Digitised compliance monitoring systems are a necessity to gather this information in real-time, which is the only way this application of the data is effectively possible. The result of this forward thinking application of data is a state of “predictive compliance”.

Today we consider how real-time audit data can allow businesses to predict and prevent future compliance risks

Too Big to be Non-Compliant, Why Take the Risk

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As we’ve preached for years now, regulatory compliance is more than just important in business, it’s an absolute necessity. And the larger the business caught in non-compliance, particularly in cases that affect public health and safety, the deeper and wider the implications and consequences of that non-compliance becomes. This has become very evident in the current scandal involving Volkswagen, the third largest automobile manufacturer in the world.

In this article we look at the potential large-scale consequences of non-compliance, as demonstrated by the Volkswagen scandal.

In Compliance, Big Salaries Come With Big Risks and Responsibilities

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Compliance has become a huge industry, partly out of wanting to simply do good business, but mostly out of the necessity of complying with ever-increasing rules and regulations from governments and other regulatory agencies.

In response to the new demand, companies are now paying hefty salaries to compliance officers. As with all things, however, great rewards come only from great risks and responsibilities.

In this article we explain why Compliance Officers are earning higher salaries and why they are personally at risk for non-compliance.

FIFA, Corruption and Sports Governance

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The world’s most popular sport is facing a crisis of confidence, and not without good reason. What started as an investigation by the United States Department of Justice into bribery concerning broadcast rights, has become an full scale investigation of FIFA as a whole.

Swiss authorities began looking into bribery charges concerning the 2018 and 2022 World Cup bidding process within hours of the broadcasting scandal, and at least 14 officials and marketers for FIFA have already been indicted for corruption.

Oversight and Audits are Necessary to Remedy Game-Fixing Plague

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The recent FIFA scandals have put the spotlight on corruption in sport, and we have been pointing out that in this situation, as with any similar problems in business or other organisations, good governance and ensuring proper compliance are key in minimising the issues.

But while the scandal of the day concerns bribery, there is another issue in global sports that has much stronger roots: the problem of game-fixing. In other words, players purposefully losing a game, holding back on their play, or otherwise disregarding fair play in return for money.

In this article we discuss how game-fixing facilitated by online betting can be curbed, using a three-pronged compliance approach