Until now, the focus of compliance activities has been on meeting regulatory requirements. The constantly growing regulatory requirements and increased expectations of supervisory bodies have steadily expanded the scope of compliance in recent years. At the same time, business models are becoming more digital, risk profiles are changing, the collection of big data is changing the information base - in other words, the digital transformation is in full swing.
And this has now also arrived in compliance. The self-image of the compliance organisation is changing towards a value-oriented approach that efficiently focuses on the value contribution of individual compliance services. The prerequisite for the transformation is a value- and result-oriented analysis of the services in connection with the digitalisation of essential compliance services and a clear idea of their strategic orientation.
To drive this transformation forward, a deep understanding of the organisation, business models and processes is necessary along with expert knowledge of complex compliance issues and processes. A modern compliance management system must be able to react agilely and flexibly to the permanent changes, is constantly in the process of further development and self-confidently faces the question of the value contribution within a company.
First, we evaluate your compliance function on the basis of a maturity model and analyse the value contribution of individual compliance services with regard to risk mitigation, their time expenditure, their agility and flexibility to new compliance-relevant issues and, last but not least, to what extent they are in line with your overall strategy and culture. As part of this analysis, we look at your entire compliance organisation and identify potential for optimisation through, for example, digitalisation or the bundling of compliance activities.
With innovative solutions, technology and an interdisciplinary team, we implement your compliance strategy and equip you for the challenges of tomorrow.
Eun-Hye Cho
Partnerin, Audit, Regulatory Advisory, Sustainability Reporting & Governance
KPMG AG Wirtschaftsprüfungsgesellschaft