Compliance Management

With regard to increasing losses through acts of fraud as well as growing liability risks for corporate management, compliance is becoming increasingly important. Moreover, in view of data protection considerations, compliance management has become the subject of public interest in recent years. In this context, organizations not only face civil and criminal liability, but also reputational damage and/or damage to their image.

Consequently, members of management and supervisory bodies must take a critical look at how compliance with laws, contractual commitments and internal regulations as well as guidelines can be efficiently assured.

Compliance management systems (CMS) are increasingly used to account for the required measures and form them in a transparent, manageable and controllable manner. Here CMSs are especially relevant in the context of risk management, internal control systems and internal auditing of an organization.

The principle expert committee of the German Institute of Public Auditors has, among other things, released the Auditing Standard AuS 980 "Basic principles of proper auditing of compliance management systems” on March 11, 2011 in order to verify the functionality and design of a CMS by an independent institution.

According to the standards, a CMS includes the following basic elements:

  • Compliance culture
  • Compliance objectives
  • Compliance risks
  • Compliance program
  • Compliance organization
  • Compliance communication
  • Compliance monitoring and improvement

Altavis uses multi-level procedures to facilitate the development, implementation, optimization and monitoring of an effective CMS. Our experienced, qualified compliance specialists support you in operating active compliance management for creating prevention and transparency, meeting your organization’s requirements and reducing or avoiding follow-up costs through compliance violations.

Our compliance management & related services include:

  • Conception, design and implementation of compliance management systems (CMS) in accordance with national and international standards (e.g. IDW AuS 980 and COSO)
  • Continuous monitoring and optimization of compliance management systems
  • Quick-checking, review and assessment of existing compliance structures
  • Certification of compliance management systems
  • Integration of compliance management, risk management, internal auditing and internal control systems
  • Compliance and corporate governance consulting
  • Training and coaching of staff at all corporate