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First Compliance Steps of a Compliance Officer
The first compliance steps of a compliance officer include the establishment of a compliance management system. For some companies, compliance is something completely new and they are just familiar with taking first compliance steps. Other companies have already established a fully-fledged compliance management system. We're professionals. Use a first compliance consultation. Compliance Analysis The compliance officer first deals with...
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Entrepreneurs pay attention, new whistleblower protection law comes
The new German whistleblowing law obliges certain companies to install internal whistleblowing systems for employees in the future. The new whistleblower protection law is already available as a draft, so companies concerned can adapt to it at an early stage. Target group of the whistleblower protection law In principle, companies with 50 employees or more as well as companies with annual turnover above 10 million euros are affected. Stricter rules for...
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Whistleblowing as a secret weapon
The fire department should eliminate the source of a danger – quickly, reliably, with suitable means. More elementary part of fire protection is that people alert the fire brigade when they recognize a fire. Compliance violations are like a fire stove, a compliance whistleblower system works like hotline 112 and the compliance officers are practically the fire brigade. The sooner the fire brigade arrives, the...
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Compliance program and compliance structure
Based on the findings of a systematic compliance risk analysis, a company creates its own compliance program. The program ideally includes principles and measures to reduce compliance risks and avoid violations of laws and rules. Factors taken into account may be the region or business model of the respective business unit. From the integrity check of new and existing business partners to a central...
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How does compliance find compliance risks?
In particular, the risks to which a company is exposed influence the design of a compliance management system. In the professional world, the expert also speaks of risk landscape, risk situation or risk exposure. Procedure for Compliance Risks We recommend the following procedure for establishing a compliance management system: after identifying the risks, these are evaluated. The risks were split into company specific and general. Specific...
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Compliance in 6 steps
Compliance can be applied in a structured manner in 6 steps. 1. Risk Analysis: Identification of Risks and Legal Requirements Each compliance analysis will usually begin with the identification of general and industry- or company-specific risks in which the company moves. The legal framework conditions and the resulting compliance requirements must be determined. 2. Status analysis: Current...
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What is Compliance
Compliance in itself merely means that the applicable legal rules and recognised social values and standards are always respected within the framework of all business activities. Already in the light of the existing regulatory density for companies and entrepreneurs, cross-border activities, increasing regulation and especially special liability for management bodies, each company must now have compliance management...
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An incentive is something that arouses interest. Incentives can motivate people to do something, for example in material or financial form.
Our company law practice is not only at your side, but we support you in the implementation of compliance management as well as in the provision of our house as external Compliance Officer.
Rechtsanwalt Dipl.-Ing. Michael Horak, LL.M.
We're professionals. Use a first consultation with us.
Rewards can be used to create incentives for in-house whistleblowing.
Rechtsanwalt Dipl.-Ing. Michael Horak, LL.M.
Purpose of incentives
Incentives can be used as an effective means of enforcing compliance within a compliance management system. They form the basis of effective compliance management.
A professional system of rewards for compliance with rules can thus be created through targeted financial incentives.
We advise and support you on all compliance issues.