Purpose Risk management
Friction-based compliance
The right compliance programme can help to set the tone for organisational culture and support staff understanding of risk .
MARK HUNTING partner at bracewell ( uk ) llp
A n effective , well-designed compliance programme goes beyond simply meeting an organisation ’ s legal obligations ; it can contribute to setting the culture of the business , guide staff towards making ethical decisions and help internal teams to understand properly the risk of their individual business activities .
Many organisations implement ‘ gold-standard ’ compliance programmes which set common requirements across all areas of activity . These are often too conservative or overengineered . While they can be effective in minimising legal risk , putting the organisation in a strong defensive position if things go wrong , they can have hidden costs and risks .
42 May 2024 | Issue 3