Compliance Management survey

Compliance Management: Challenges and Focus Areas During Implementation

Effective compliance management is imperative in today’s business world in order to meet regulatory requirements and ensure an ethical company culture. PeRoBa Unternehmensberatung (PeRoBa Management Consultancy) supports companies comprehensively in introducing management systems including ISO 37301 (Compliance Management).  From April until August 2024, we conducted a survey in order to identify challenges and focus areas during the introduction of a compliance management system.

Important Survey Findings:

1. Checking and adjusting on a continual basis (78%)
   Checking compliance measures and adjusting them on a continual basis in order to be able to respond quickly to regulatory changes was at the forefront.
2. Creating reports as well as monitoring (71,5%)
   Efficiently creating reports as well as monitoring open compliance issues are closely connected to this, contributing to transparency and accountability.
3. Measures based on the analysis of competency gaps (47%)
   Another important area consists of identifying and remedying competency gaps within the organization in order to make sure that coworkers understand the compliance standards and are able to implement them.
4. Strategy development and internal audits (40-41%)
   Almost half of the people who were surveyed considered the development and the implementation of a compliance strategy as well as the performance of internal audits key tasks.
5. Training and integration into management systems (35–30%)
   Performing training and integrating the compliance measures into the existing management systems were also deemed important.
6. Communication with external parties (19%)
   The lowest priority was given to the communication with external parties, such as, for instance, regulatory authorities, which might possibly be ascribed to internal focusing.