January 11, 2022
Compliance Management awareness is a critical component that impacts any organization’s overall culture. The persisting success of every single organization is strongly influenced by how well it has defined its governance, risk, and compliance culture, both internally and externally. A solid corporate awareness culture of ethics and compliance is the foundation of an effective risk management program. The governing structures of an organization should not consider risk management a soft issue, as its weakness or strength has a lasting impact on the organizational performance and reputation.
Creating a culture of compliance requires continuous vigilance, resources, and time to influence harmonization of beliefs and values with respect to the importance of the company’s regulatory obligations and internal policies and procedures. The compliance culture is characterized by mutual trust and shared perceptions of the importance of risk management.