31 Days to a More Effective Compliance Program - Designing a process for continuous monitoring

Thomas Fox
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Most CCOs and compliance practitioners understand the need for continuous monitoring. Whether it be as a part of your overall monitoring of third-parties, employees, or to test the overall effectiveness of internal controls and compliance, continuous monitoring is clearly a part of a best practices compliance program. Further, while most compliance practitioners are aware of the tools which can be applied for continuous monitoring, they may not be as aware of how to engage in the process. Put another way, how do you develop a See more +
Most CCOs and compliance practitioners understand the need for continuous monitoring. Whether it be as a part of your overall monitoring of third-parties, employees, or to test the overall effectiveness of internal controls and compliance, continuous monitoring is clearly a part of a best practices compliance program. Further, while most compliance practitioners are aware of the tools which can be applied for continuous monitoring, they may not be as aware of how to engage in the process. Put another way, how do you develop a methodology for building a continuous controls monitoring process that yields sustainable, repeatable results?

Three key takeaways:

1. Create a process to monitor your controls.

2. Use a compliance SME to work with your internal controls specialist to develop queries from the compliance perspective.

3. Finally, do not forget the feedback loop nature of the process by integrating your results going forward. See less -

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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