Is compliance about checking boxes?

I read an interesting blog post this morning, and I wanted to share and see if our blog readers had any thoughts to add.  Eric Krell at the Big Fat Finance Blog (a personal favorite information source of mine), suggested in his latest blog post that compliance really should be a matter of checking boxes.  I would bet that many gut reactions to that were similar to mine.  “Yikes!”

But he caught my attention – and in the end, I agree with his assessment, albeit not with the way that he stated it.  If an organization has built a culture of appropriate risk assessment, governance, ethical conduct and solid business practices, “compliance” is simply a matter of checking off the boxes on the various regulatory reporting that is necessary.

Mr. Krell also alludes to the fact that the actual effectiveness and implementation of the current regulatory environment is arguably flawed, and so it’s not always quite so simple, but the primary point is still valid.  If it is difficult for organizations to respond to regulations, perhaps they should examine their business to discover why.

This entry was posted in Industry News by Chris Burd. Bookmark the permalink.

About Chris Burd

Chris is the Vice President of the policyIQ group at RGP. She gets geeky about compliance and technology, and gets to spend every day working at the crossroads of the two. With policyIQ since 2005, Chris has worked with hundreds of policyIQ clients to implement technology and enhance their internal compliance environment. In past lives, Chris worked as a system implementation consultant, a e-commerce specialist, a customer service call center manager, and - for one short but memorable summer during high school - a machine operator on midnight shift in a plastics factory. In her free time, she spoils her nieces, reads too many books, and spends more time than she should taking photos of her cats. She's on a mission to visit the hometown of every US President - so far managing to get to 14. She would like to be a rock star when she grows up.

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