Seven Elements of an Effective Compliance Program

Why are the Seven Elements significant?

When a compliance failure occurs or a regulatory examination notice is received at any company, the first question any CEO will ask is what are the potential consequences? It is critical that any company attempting to manage regulatory compliance risk understand that there is a legal standard that will be used in establishing these consequences.

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Effective Compliance and Ethics Program

All standards for an Effective Compliance program are based on the elements of an Effective Compliance and Ethics program as defined by the US Sentencing Commission, Federal Sentencing Guidelines. But as is often the case in US regulatory law, incorporation within laws and regulations may vary slightly depending on the industry and the regulation in question. Understanding this foundation is essential for any corporate officer charged with managing compliance risk. These standards can also be very useful in applying process disciplines to a variety of operational risks that may not rise to a legal requirement but that management feels will drive a more high performing, low risk business.

Axentis has developed an application to support both the business goal of managing compliance risk better and at a lower cost, but also to allow our customers to align their compliance management program to the standards by which they will be judged by a regulatory authority or the court system. Our clients have found that driving a comprehensive regulatory risk program is highly effective in managing overall operational risk.

Axentis Aligns with Seven Elements

Since 1999, Axentis has provided solutions to some of the most highly regulated companies in the world who have had to remedy a variety of compliance failures under the direction of regulating authorities, like the Office of Inspector General, the US Attorney’s office and State Attorneys’ General, where our clients have been subject to Corporate Integrity Agreements, Consent Decrees and Deferred Prosecution Agreements.

Axentis solutions provide you with a measurable, repeatable and demonstrably effective compliance program that can be reported under the most stringent and harsh enforcement programs. Having this in place will not only prevent many compliance failures in the first place, but when they do occur, your company can avoid more harsh legal penalties because you can show an intent to manage your compliance risk proactively and in alignment with the legal requirements. This can lead to a substantial reduction in fines and disruption to the business.

Learn more on how Axentis solutions align with all seven elements of an effective compliance program to help you
Achieve Your Compliance Goals.