Five Best Practices for Compliance Management



As we enter the home stretch of 2021, many organizations are reflecting on this past year and synthesizing lessons learned to inform a more focused and effective business strategy moving forward.


Our 2021 Compliance Benchmark Report provided significant insights on how organizations are navigating the current compliance landscape, as well as how they are preparing for the future. By surveying more than 200 cybersecurity, IT, quality assurance, internal audit, finance, and other professionals, we discovered a great deal about what makes compliance programs run smoothly and efficiently, and where there may be areas for improvement for businesses of all sizes and across all industries.

Here are five compliance management best practices gleaned from the 2021 Compliance Benchmark Report that you can use to improve your organization’s compliance program.

Best Practice #1: Combine Audits for Greater Efficiency

One of the standout findings from our Compliance Benchmark Report was the revelation that many organizations are not taking advantage of opportunities to streamline their audit efforts while achieving the same results. 85% of respondents to our survey said they conduct more than one audit every year, but just 14% consolidate their audits into a single annual event.

We highly recommend taking a strategic, year-round approach to preparation in which your organization consolidates audits and assessments wherever possible. A Master Audit Plan (MAP) is an invaluable tool that can be used to:

1) Gain greater visibility into the efforts required from various teams

2) Determine what is needed for each audit

3) Identify evidence that can be repurposed across audits

50% of our survey respondents said they spend one to two months preparing for each audit or assessment and 17% noted they spend six months or more preparing for each audit or assessment. Clearly, using a MAP for more efficient compliance management has the potential to save your organization substantial time and resources.

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