Introduction/Background Companies are perpetually affected by compliance. If a company is to meet compliance standards, they must maintain this if they wish to continue operating. If they are unable to meet them, then the business is likely doomed for failure. It is a tough battle on either front. To make matters harder, some compliances are not actually a legal requirement, but not meeting them would spell certain doom for the company. This idea is no different for Organization A. Organization A’s reputation and maintained business continuity are contingent upon specific regulations and compliance. Without this compliance, the organization will no longer hold the respect and credibility they currently have. This paper focuses on Organization A’s attitude and handling of the ISO 27001 certification as well as organizational auditing concerns.
To provide background, Organization A is a consulting firm specializing in forensics, cyber-security, and incident response. They also have services in investigations, behavioral analytics, and e-discovery. Because of this type of work, there are occasions when the organization must testify in a court setting. The need to provide clients with verified, unaltered information is crucial in ensuring that the law is properly administered. Without specific compliances and certifications, proving the organization is acting properly becomes exceedingly difficult to do in court. The major compliance that Organization A must maintain is ISO
It is often recommended for (HCO)’s to have a corporate compliance plan to be more efficient, reduce errors, and not have small errors turn into large errors. As (OIG) it’s a necessary and fundamental need to incorporate a corporate compliance plan to have for staff and management to stay organized and lessen the chance of fraud, waste, and abuse in the company. Stated by, (Cleverly, Song, & Cleverly, 2011), it is effective only if it includes management support, effective communication, continuous monitoring, and individual accountability. All these aspects are a continual monitoring requirement as long the corporate compliance is in place for the duration.
There can be many dilemmas for organizations that have serious regulatory issues. Organizations can be fined for even the smallest break in the regulations (Lester & Parnell, 2006). When there are major issues, imagine how high those fines may be. Not only may the fines be costly, but the cost of getting a company up to the necessary standards can also have a major effect. If the costs outweigh the profit, a company could potentially shut down.
According to the textbook, ongoing challenges in the global business environment are mostly attributed to unethical business practices, failure to embrace technology advancements, and stiff competition among businesses. Imagine that you have been appointed as Apple’s Chief Compliance Officer and must prepare a video presentation for Apple’s suppliers regarding Apple’s Supplier Code of Conduct to deliver via a web meeting. To prepare for your presentation, review Apple’s Supplier Code of Conduct,
Arnason, S, & Willett, K.D. (2008). How to achieve 27001 certification an example of applied compliance. New Auerbach Publications.
CONDUCT AN ANALYSIS OF THE OPERATIONS AND BUSINESS ARRANGEMENTS OF THE ORGANISATION AND IDENTIFY THE FUNCTIONS, PRODUCTS AND SERVICES THAT MAY BE SUBJECT TO COMPLIANCE REQUIREMENTS
When conducting business whether it is local and global, big or small organizations have to abide by state and federal laws. Depending on the nature of the business different organization has to comply with certain laws and regulations. For example, retailers like Wal-Mart, Target and Kroger have to comply with the Department of Labor and a manufacturing company like LM Fiberglass and Toyota would have to comply with the Environmental Protection Agency and Occupational Safety and Health Administration (OSHA). When an organization do not comply with the state and federal regulation the company can face fines or become caught up in major
You will produce a report that justifies and evaluates the tools and frameworks that you used in completion of Assignment 1.
An example in Brazil would be the Bahia Sul Celulose (BSC) corporation and their use of the quality management system ISO 9001:2000. Employees at BSC, a bleached eucalyptus pulp for uncoated printing and writing paper producer in Brazil, is an example of an organization exercising corporate social responsibility while raising their industry standards. J. E. Cajazeira, the Quality Assurance Officer for BSC, and G. Camargo, the Communications Assistant at BSC (2004), set an example for the pulp and paper production industry by implementing and integrating ISO 9001:2000, 14001 and OHSAS 18001 quality management systems that are recognized worldwide for superior quality standards. BSC found that employing the ISO standards yielded a significant drop in environmental non-conformities and about a 40% fall in water usage; they also discovered that prime pulp quality increased close to 12% (Cajazeira & Camargo, 2004). Results from a recent customer survey reported that over 80% of BSC’s national and international customers were described as “happy” with the company’s performance (Cajazeira & Camargo, 2004). BSC is but one example of Brazilian corporations rising to the level, and above, industry standards. BSC is an example of corporate social
Compliance usually comes with a list of control objectives. When objectives are complete and followed, your company should be complaint with a particular standard or legislative requirement. However, simply checking the boxes for each control objective doesn’t mean that you’ve actually improved your overall operational security or reduced your company’s risk. Managing compliance does not translate to managing risk, at least not from an InfoSec perspective.
The country is no stranger to the dire, debilitating and desiccating consequences that a corporation or group of corporations can wage on contemporary society via a failure to engage with compliance programs as a result of laziness, disorganization, greed and a sheer desire to ignore these regulating principles and the rules that are meant for all. While immediately after the scandal with Bernard L. Madoff Investment Securities LLC, neither the compliance officer who worked for the firm (Peter Bernoff, Bernie's brother) nor the compliance attorney (Shana Bernoff, Bernie's niece) were charged with any criminal offenses, James A. Fanto, professor of law, asked the most pointed and most poignant question, "How could you have this massive scandal going on in a firm that's adopted adequate procedures? That's what compliance is all about" (Barlyn, 2008). Compliance officers have to act like proactive police officers, rather than merely wait for contact and scrutiny from the Federal Government. Compliance officers have a range of jobs creating and assessing supervisory procedures, implementing such procedures, and essentially making sure the company follows the given compliance plan, not to mention finding ways that the compliance plan could be improved in order to bolster effectiveness, precision and a proper code of conduct.
19. Firms that wish to do business with the European Community can benefit from having a quality management system that needs ISO 9000 standards TRUE
Companies have actually a clear duty to comply along with applicable rules and guidelines in their own nations of operation. This requires a company’s approach to the
Risk, compliance and governance activities are by nature interconnected and rely on common sets of information, processes, technology and methodology. The traditional approach to governance, risk and compliance relies on working in silos and using separate point solutions to address each assurance group’s requirements. This creates a fragmented approach
The ISO 14001:1996 implementation process is extremely lengthy and organizational culture plays an important role. As indicated by Wallace, “an organizational culture is agreed as a distinction of the day-to-day environment as seen and felt by those who work there” (as cited by Balzarova et al., 2006, p. 90). The first organization, based in the North West of England, which the authors performed a case study on was a manufacturer of brass and steel fabricated components. In the last few years, the organization had seen a loss in their profit margin which has forced them to rethink their strategy within the market they operate in. In order to make change, they took on the philosophies of world class manufacturing and to form on highly skilled work force (Balzarova et al., 2006). At this point, upper management also believed the ISO 14001:1996 was in the need of re-implementation because the company had lost certification. Certification was lost due to inadequate preservation and the absence of commitment (Balzarova et al., 2006). In order to be successful in the re-implementation, the organization had a detailed plan with milestones and individual responsibilities. They did obtain certification but there is
ISO 9001 is a Quality management standard which is recognised internationally and used by organizations worldwide. It can be used by business of all sizes, it provides an effective quality management system. It was first published in 1987 (updated 1994, 2000, 2008). The latest version was published in 2015. This replaces all the previous editions. (Praxiom Group 2014)