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Data analytics for compliance and controls
Compliance management, whether for regulatory requirements or adherence to internal policies, processes and controls, is a challenge for many organizations in all industry sectors. Often, it consumes an enormous amount of resources. It takes time and money to establish new processes and implement systems for new or constantly evolving external regulations and internal controls policies.
But business managers who view controls as impediments to performance put their organizations at peril. There has to be a better way. And there is.
Data analytics hold the key to simplifying and improving the efficiency of your organization’s compliance and controls processes—regardless of your industry. Driven by data analytics and a continuous monitoring framework, you receive insights into the effectiveness of your compliance and control processes. You can also identify new and emerging risks for which no controls have been established.
Working with RSM’s experienced data analytics team and using your own data, you can establish more effective compliance and controls programs. Our team will collaborate with your compliance and controls professionals to:
- Help you design data-driven strategies to address regulatory requirements and your organizational control policies
- Assist with program development
- Design and develop analytics to help you monitor the effectiveness of financial and operational process controls and specific compliance requirements of regulations, including Sarbanes-Oxley 404, the Foreign Corrupt Practices Act and anti-money-laundering regulations, to name just a few
Every industry and organization has unique requirements that need to be considered. RSM has worked with organizations around the globe. Our team includes some of the world’s most experienced and knowledgeable advisors in the compliance and controls arena.
If you’re considering implementing data analytics to assist with your compliance and controls programs, don’t go it alone. Contact RSM to discuss that data-driven, “better way” to approach compliance and controls. You’ll be glad you did.