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	March 30, 2004 Demystifying Compliance Incorporating Compliance Management Into The Business by Michael Rasmussen with Steve Hunt, Natalie Lambert

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Executive Summary

Business and financial integrity, privacy, information security, business continuity, and homeland security all place significant regulatory demands on organizations. Faced with the challenge of meeting multiple sets of requirements from regulators and business partners, organizations are confused about how to approach compliance management. To succeed in compliance management, organizations need to have a defined strategy about how to integrate compliance into the organization. Successful compliance management involves: 1) accountability — understanding that executive management and the board are ultimately accountable for compliance; 2) governance — establishing a culture of compliance in the organization; 3) responsibility — appointing someone to be in charge of compliance management; 4) understanding — identifying what the regulators are looking for; 5) architecture — developing a compliance control architecture; and 6) validation — verification that controls are in place and functioning properly.

TABLE OF CONTENTS

• The Compliance Mandate
• Executives And The Board Are Accountable
• Governance Is The Cornerstone Of Compliance
• Assigning Responsibility For Compliance
• Understand What Regulators Are Looking For
• Building A Compliance Architecture
• Validating Compliance

RECOMMENDATIONS

• Satisfying Regulatory Requirements

WHAT IT MEANS

• Compliance Management Needs To Be A Defined Business Process

ALTERNATIVE VIEW

• What Do I Need To Do To Get By?
• Related Research Documents

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