Much of the subject matters discussed on this website are focused on identifying those risks which have the potential of creating conditions, incidents and disasters which could disrupt the operations of a company and at the very least stop that company from being able to keep its doors open for business and thus satisfying the requirements of its customers.
With that thought in mind, we recommend reading a recent article written by Mark Srere, and posted on the Corporate Compliance Insights website.
In his article, Mr. Srere states that compliance risks for U.S. companies will increase in 2010. And, given the economic downturn and current market conditions, this prediction, if true, will create many difficulties for many organizations.
He goes on to list the following five areas that are expected to generate some, if not most, of the increased risks facing a company in 2010:
● Impact of Healthcare Reform Legislation
● Increased Regulatory Oversight and enhanced enforcement in variety of areas
● Implications of increased use of social media
● Anti-Fraud / Anti-Corruption Prosecution
● Managing e-data and document productions for any litigation
Moving forward in 2010, many compliance departments within organizations (if they have any at all) may be facing similar departmental risks found throughout so many organizations today – i.e. those risks resulting from a common denominator dynamic called lack of sufficient resources. While we often relate these risks in our business continuity and risk managements team meetings, it is important to focus on the compliance requirements surrounding these risks.
For more details click here to read more ….and then, ask the question, “How does my organization fit into these categories of risk?”
Please pass this information along to the appropriate compliance risk managers in your organization.