The Three Major Reasons for Using Lean BPM for Compliance

JobTraQ Leverages Powerful Lean BPM Functionality to Improve Compliance Effectiveness & Efficiency There are two major challenges facing compliance teams and auditors: establish what happened and put in place controls to prevent bad stuff happening in future. In a nutshell, that sums up compliance at the coal face, and as a former auditor I well remember my supervising partner’s maxim, “Remember, we record history, we don’t make it!” Such is the life of an auditor, but there is a great deal going on behind those simple statements. Establishing what happened involves the who, the where, the when, the how, but... Read More »

Sarbanes-Oxley: Trust is Not a Control

Sarbanes-Oxley (SOX) compliance is onerous, with heavy penalties that include more than large dollar fines, but serious jail time in a Federal “country club” penitentiary and shades of The Shawshank Redemption. Enacted in 2002, we have been living with SOX for over a decade, and companies subject to SOX have been getting better at managing the associated costs which have declined as a percentage of revenue. But, have companies gotten better at actual compliance with SOX? Personally, I don’t think so as what appears to be a pyramid of sub-certifications built on sub-certifications has simply created a compliance house of... Read More »

Gaining Visibility into Compliance Processes

Karl Hindle is a former auditor with Arthur Andersen & Co., and former partner of financial services firm, Andersen Hindle (UK). Today, he writes on the accelerating rate of compliance and regulatory change, and how digital automation can bake compliance processes into business processes, speed up report creation and notification, reduce the cost of audits and investigations, and free valuable compliance resources for deployment on proactive consulting and investigatory work. Are you able to look your senior leadership in the eye and advise them that compliance is under control across the organization? How confident are you that compliance policies are... Read More »