ARE YOU
REGULATORY COMPLIANT?

Compliance assurance services are designed to help organizations understand their compliance obligations and effectively mitigate associated risks. These services include evaluations, reviews, and other procedures to ensure that the organization is adhering to relevant laws, regulations, and internal policies.

The objective of a compliance audit is to verify that an organization is following relevant laws, regulations, and internal policies. It aims to identify any areas of non-compliance and provide recommendations for improvement.

There are certain regulations which mandate the conduct of compliance audits. If the company chooses to conduct these audits voluntarily, it may do so on a quarterly, half yearly, or annual basis, depending on what the organization deems most appropriate.

While some compliance assurance services may be conducted periodically, organizations often benefit from ongoing compliance monitoring and regular reviews to address new or changing regulatory requirements.

Assurance services can provide insights into best practices, enhance risk management processes, improve data integrity, and support strategic decision-making, leading to better overall organizational performance.

The duration to complete a compliance audit can vary significantly based on several factors, including the audit's scope, regulatory requirements, availability of information, and client cooperation. Typically, audits may take anywhere from a few days to several weeks.

The responsibility for ensuring the assurance exercise typically falls to the compliance officer or the internal audit department. Additionally, senior management and the board of directors play a crucial role in overseeing and supporting these efforts to ensure compliance with regulations and standards.