Compliance Implementation Of Compliance Management

1237 Words Oct 12th, 2016 5 Pages
Our clients are colleges and universities just like yours that have chosen to implement compliance programs as a result of our compliance assessment. A typical compliance program helps institutions and their employees conduct operations and activities ethically; with integrity, and in compliance with legal and regulatory requirements.

A comprehensive compliance program fosters a culture of ethics and compliance. It helps an institution maintain its fiduciary, federal financial reporting, internal control, and legal and regulatory responsibilities. In doing so, institutions gain an understanding of the nature of risks and potential exposures they face, putting them in control. As a result they’re able to manage their risks and thus, have fewer compliance problems. It’s this attitude of compliance management that ….

Compliance is the act of following the rules. At colleges and universities, the difference between compliance and compliance management is that compliance activities are often done only because of regulations while, compliance management activities are done for good business reasons, regardless of the regulations. Consequentially, a comprehensive compliance management program meets the needed assessment, monitoring and control activities of both.

To have an effective compliance program, an institution must establish and maintain a culture that encourages ethical conduct and a commitment to compliance with the law, backed with best practices for internal…
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