The Compliance Journey: Boosting the Value of Compliance in a Changing Regulatory Climate
“While changes to specific regulations are anticipated and are already occurring, compliance is broader than any one regulation.”
In a time of new U.S. administrative impacts to the regulatory environment, determining how to boost the value you get from your compliance activities is critical. Advances to your compliance program effectiveness, efficiency, and sustainability fall to the execution of both a sound compliance framework and investments in your technology infrastructure. For Chief Compliance Officers (CCOs), this starts with gaining a clear picture of where they stand in their compliance journeys, even amid significant uncertainty in the healthcare industry. Though the future of the Affordable Care Act and expected changes at the Food and Drug Administration is somewhat unclear, CCOs can be prepared by maintaining strong policies related to risk governance, conduct and culture.
To explore how well organizations are meeting challenges, KPMG LLP (KPMG) conducted a CCO Survey which identified strengths, weaknesses, and trends in compliance programs across major organizations in seven industries, including healthcare. We believe our new point-of-view document on the Survey results may provide CCOs with vital information on how peer organizations are managing compliance, and also highlight leading practices.
Read The compliance journey: Boosting the value of compliance in a changing regulatory climate, to discover better compliance practices and trends:
• Ways in which the Board of Directors are extending their compliance oversight
• How organizations are embedding a compliance culture across their enterprise and involving lines of business in compliance initiatives
• How organizations hold employees accountable for compliance and communicate the importance of compliance
• How organizations embed regulatory and compliance obligations and Code of Conduct requirements in their policies and procedures
• How organizations can better keep pace with regulatory changes
• How organizations are approaching compliance risk assessment
• To what extent CCOs are leveraging technology in their compliance efforts
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