Most businesses compete for customers, revenue and profitability. A competition that requires ongoing compliance with a growing number of government laws, industry standards and customer requirements. You may not think of compliance as a competitive advantage but each year thousands of businesses lose ground to their competitors because they fail to adequately manage their compliance obligations. So what…
In this last article in my 3-part series on statistical compliance auditing, I demonstrate how the statistical methods and sampling tools outlined in Part 1 and Part 2 can be used to create a world-best-practice, risk-based statistical sampling system. Risk-based compliance auditing Risk-based compliance auditing starts with an understanding that some types of non-compliance are more serious than others. …
Is your health and well-being, or that of your employees, being affected by the prolonged effects of high compliance stress? In this article, I outline how to identify the symptoms of high compliance stress and more importantly, how to treat the causes without affecting compliance performance. What is compliance stress? Ever since the GFC in 2007 organisations worldwide have…
Skyrocketing compliance risks and costs are exposing many businesses to crippling regulatory penalties, reputation damage and lost revenue opportunities. Little wonder many managers view compliance as a millstone about their necks rather than something that adds value. But what if we could turn this negative mindset around? What if we could transform business compliance into a competitive advantage? The first…
In recent years, compliance benchmarking has become very popular in heavily regulated industries such as banking, health and aged-care. But how useful are these schemes, really? The truth is most organisations, particularly those in the service-sector, achieve compliance in totally different ways, so setting benchmarks based on industry-best-practice makes little sense. Furthermore, compliance benchmarking is subject to a number…
Compliance Master is offering Australian residential care facilities a FREE checklist template to help them proactively monitor and correct gaps in their COVID-19 systems and processes when they sign up to its cloud-based compliance assessment and continuous improvement software. The checklist covers the following aspects of a residential care facility’s COVID-19 prevention controls; Screening on Entry Outbreak Management Plan…
Leading aged-care professional Andrea Waring warns that residential aged-care providers must not let down their defences in response to the current low-levels of COVID-19 infection in Australia. Andrea stresses that aged-care residents will continue to remain at the highest end of the COVID-19 risk spectrum until the virus is completely eliminated or brought under control, which is still some…
In today’s highly regulated business environment boards and executives are desperately seeking help from their spiralling compliance risks and costs. Have you got what it takes to come to their rescue in 2022? Have you got what it takes to become a compliance superhero? Superhero Qualities and Traits To become a compliance superhero in 2022 you will need to exhibit…
2021 has been a challenging year. One, many of us would like to forget. Given all the disruption caused by COVID-19 this year, business managers would be forgiven for putting their feet up over this holiday period and taking a well-earned rest. But, as someone famous once said, “life must go on”. It’s back to business-as-normal in 2022 for…
Over the past two decades, enterprises worldwide have experienced significant increases in their regulatory oversight and reporting obligations. At the same time penalties for non-compliance have increased to the point where they can seriously affect an enterprise’s reputation and viability. In 2014 many of the maximum penalties under the Protection of the Environment Operations Act, 1997 (NSW) were increased…
Question: Why is preparing for accreditation a…
Most businesses compete for customers, revenue and…