More than a third of global financial services organisations are finding it difficult to comply with regulatory requirements due to the complexity of their legacy application infrastructure, according to a new survey.
That is, if your corporate policies (or government mandates) dictate that certain information will be kept for a very long time, make sure that any related data is stored in a format that will still be readable in five, ten, twenty years, etc.
Metzger said: "SAP grew the SOX 404 risk evaluation process over internal controls of financial reporting into a holistic Enterprise Risk Management function, and is currently developing a consolidated compliance and governance framework for the...
Good governance, appropriate risk management and the satisfaction of knowing that these two pillars can enable one's organisation to meet whatever compliance mandates it needs to - and that doesn't just mean industry regulations - make perfect...
But when an organisation takes a holistic approach to compliance by looking at all parts of its business, all processes and all regulations, the benefits will eventually outweigh the costs. Organisations taking just a tactical or piecemeal approach...
So higher level ownership is vital, as is the need to seed the capabilities gained from addressing stringent compliance mandates into everyday working life. To comply with information delivery requests is problematic, time-consuming and - for 50...
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