Preparing For A Successful Accreditation Launch

Question: Why is preparing for accreditation a lot like launching a rocket into space?  Answer: Because they both require system and performance audits.   Let me explain. First, before you attempt to launch a rocket, you need to be sure it will achieve its objectives.  This is done by checking its systems i.e. fuel, navigation, engines, etc. to ensure they…

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How To Be A Compliance Frontrunner

How to be a compliance forerunner

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…

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Part 3: How To Create A Risk-Based Statistical Compliance Auditing System

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.  …

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Part 2: How To Optimise Compliance Auditing With An Online Sampling Tool

Business women holding tablet

In Part 1 in this 3-part series on statistical compliance auditing I outline why enterprises should avoid using ad-hoc and rule-of-thumb methods to determine the sample-size requirements for their compliance audits and instead use tried-and-tested statistical sampling methods. I also outlined how anyone with a basic understanding of some simple statistical terms and concepts, and help from an online…

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Part 1: Bigger is Not Always Better When Compliance Auditing

In Part 1 of this 3-part series on statistical compliance auditing, I outline why enterprises should avoid ad-hoc and rule-of-thumb sampling methods and how they can improve the effectiveness and efficiency of their compliance audits by using a simple statistical sampling tool. I also outline why “bigger is not always bigger” when selecting the right sample-size for a compliance…

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Suffering From Compliance Stress?

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…

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Transform Compliance Into Competitive Advantage

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…

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4 Reasons Why Compliance Benchmarking Doesn’t Work

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…

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Aged-care providers warned not to let down their COVID-19 defences

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…

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BECOME A COMPLIANCE SUPERHERO IN 2022

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…

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Compliance Master