Governance and compliance needs must be viewed as a natural extension of the duties shouldered by management and corporate boards. Moreover, only good governance can ensure that compliance (regulatory or corporate) is aligned with the company’s business objectives and risk management strategies.
- Your company may not be in compliance with regulatory rules (e.g. AML, FIU etc.).
- New compliance issues require additional staff training.
- Potential reputational risk from failing to comply with existing regulations.
- Improper oversight at various levels of management.
- No controls to ensure that proper governance framework processes are effective.