Compliance Risk Assessment: A Structured Approach

This episode outlines a structured approach to conducting a compliance risk assessment. It details eleven steps, from defining the scope and objectives to regularly reviewing and updating the assessment. The process involves identifying applicable laws and regulations, mapping business processes, assessing risks, evaluating existing controls, and developing mitigation strategies. Key tools and techniques, such as risk assessment software and interviews, are also highlighted. Ultimately, the aim is to identify vulnerabilities and mitigate potential compliance risks within an organisation.

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