We identify the risks...
It goes without saying that business enterprises (and their officers) always had to adhere to various rules. However, until recently there were no risk managers, compliance officers and integrity managers. The universe in which companies and institutions operate has changed as a result of a significant increase of both national and international legislation, the introduction of numerous codes of conduct, new forms of supervision and unprecedented demands regarding accountability and transparency.
Infringements can easily result in serious repercussions affecting the enterprise and possibly its board members and other stakeholders: prosecution, investigations, litigation, penalties, loss of business, sanctions, blacklisting, liabilities, reputational damage, decrease of stock value, and so on.
Hence the prominent role which regulatory compliance has come to play. Full awareness of all applicable rules and codes (including non-binding guidelines relating to social or other community issues, business ethics, sustainability and other, similar matters) has by now become an absolute need. Each company (possibly with the exception of small enterprises) should have programs in place to ensure a sufficient degree of awareness, adequate risk assessment and management, and to warrant appropriate reporting both internally and towards the public.
...to help preventing accidents.
Experts at CMS give advice in all areas of regulatory compliance. Head of the team is Katja van Kranenburg.
The services include: performance of a compliance due diligence identifying and describing any relevant risks; bringing existing agreements, general terms, templates,, forms and the like in line with requirements; drawing up manuals for internal use; providing information and training courses to management and staff; drawing up internal codes of conduct and checklists; putting together whistleblower schemes; providing advice on system modifications, including it systems; establishing crisis scenarios.