Compliance Management

Compliance Management is used to ensure compliance with statutory and regulatory requirements, and in a broader sense, adherence to non-corporate standards and specifications. One well-known example is Management Self-Assessment, prescribed for listed companies in the U.S.A. by the Sarbanes-Oxley Act. Other examples are Swiss banking laws, e.g. FINMA-Circular 08 / 7 on outsourcing and money laundering provisions (formerly known as, and largely congruent with, Circular 99 / 2 of the former Federal Banking Commission), FDA?s (Food and Drug Administration) rules regarding computer systems in production and research of pharmaceuticals and the corresponding documentation requirements (see 21 CFR 11) or the extended customer identification and reporting requirements vis-Ă -vis the US Internal Revenue Service (IRS) based on the Foreign Account Tax Compliance Act of 2009 (FATCA).

Why Compliance Management?

Compliance Management should ensure compliance with legal and regulatory frameworks. This is vital for a company's ssurvival, not only in so-called regulated industries such as telecommunications, financial services and healthcare, but for many other companies too. Whilst the consequences of non-compliance with requirements can be severe, ensuring compliance with legal and regulatory requirements can also be very costly if the entire compliance process is not focused and efficient. It is therefore important that organizations set up and run Compliance Management correctly.

Our Services

As part of our Compliance Management services, we provide support for the development and implementation of the internal rules and associated processes required for Compliance Management.

We can offer the services of our experienced specialists to perform the inspections and tests required for periodic compliance reviews. Hierbei helfen Ihnen einerseits unser Revisionswissen und andererseits unsere auf Ihre Anforderungen angepassten Methoden und Tools.

Another aspect of Compliance Management is the targeted support of operations in complying with policies and regulatory requirements. In addition to assisting a department with process and IT systems requirements, our experts can also provide support during Audit Preparation, whilst auditors are performing their review and during the post-audit activities of reporting and determining corrective actions.

Your Requirements

With coordinated Compliance Management that is tailored to your organization?s needs, its legal entity, size and business or industry sector, you can be confident of compliance with the statutory and regulatory requirements, without heavy operational overheads. COREVA will help you to develop effective and efficient Compliance Management, using the techniques and expertise of our audit specialists. Your day-to-day business operations will benefit from flexible, tailored processes and practices.

Fact Sheet

Download the most important facts about our Compliance Management services here.