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 the general and industry-specific risks in which the company moves. The legal framework conditions and the resulting compliance requirements must 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 safeguards mechanisms are already in place in the company.
A target state can be defined in relation to this.
3. Creation of a new compliance policy
Those who decide to draw up a new or additional set of rules after the status analysis should first clarify who is responsible for 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 lived up to and lived in the company.
5. Mechanisms to ensure compliance rules
Whistleblowing compliance violations is an important aspect. A special compliance officer or a Compliance Board may be able to help.
6. Emergency plans for compliance violations
Finally, it can never be ruled out that despite the greatest care in a company there are violations of compliance. The procedures in such a crisis situation must be clearly structured and defined.