Compliance Management

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Compliance Management

The importance of compliance for companies and their stakeholders has increased significantly, especially since the financial crisis of 2008. The recent financial scandals, such as Wirecard, also contribute to this. Appropriate compliance management systems are important for maintaining public confidence in the capital markets and averting negative effects.

The new regulations and laws that have been passed since then, such as the FISG, also underscore the need for solid compliance management in the company. Compliance management covers a broad spectrum from a business perspective, process compliance, internal requirements and much more.

Compliance with national and international requirements, especially in the financial area, leads to increased complexity for companies and thus for compliance management systems.

As a result, the demands on the compliance function and thus on compliance management systems in companies for the prevention, early detection and clarification of compliance violations are increasing more and more, while at the same time personnel capacities are often limited. In addition, compliance tasks are becoming increasingly differentiated and specialized, so that it does not make sense for many companies to maintain the appropriate resources for the diversified compliance tasks in each area.

Your challenges with compliance tasks

Our services in connection with compliance and corresponding compliance management systems are particularly relevant for you in the following situations:

"Incidents" in the area of accounting and management reporting or IT operations that require rapid and extensive clarification on the one hand, and the implementation of measures to prevent future incidents on the other hand

Strong corporate growth and, as a result, fewer direct control options and greater need for professional and systematic approaches in terms of a compliance management system

Increasing stakeholder requirements, e.g. also with regard to ESG issues

Lack of internal capacity to take on basic compliance tasks, special areas and workload peaks

Change of legal form, e.g. to an AG, or of shareholder structure (entry of private equity investors, IPO)

Solution approaches for the assumption of compliance tasks

In particular, our services include:

Analysis of the existing situation (e.g. structural and process organization, resources, procedures) in the area of compliance or your compliance management system as a basis for identifying necessary improvements
Establishment of a compliance management system tailored to your needs that meets the requirements of IDW PS 980
Fast, operational and pragmatic hands-on support to quickly improve your compliance management
Creation of structured and comprehensible documentation as well as development and optimization of a guideline system
Set-up and operational running of your whistleblower hotline
Confidential selective compliance activities on behalf of the Supervisory or Advisory Board

Relevance of compliance for management and supervisory bodies

The existence of a functioning compliance management system is an essential basis for ensuring that the company operates within the existing external and internal regulatory requirements. The management and supervisory bodies therefore have to devote a significant part of their management and monitoring duties to compliance with these regulations.

As part of our Board Advisory Services, we support you in the continuous professionalization of supervisory, administrative and advisory board activities and provide comprehensive assistance to mandate holders in all key aspects of board work.