Compliance Management Systems Research Articles

A comprehensive review of safety audits: ensuring workplace safety and compliance in Zimbabwe

Safety audits are systematic evaluations of an organisation’s safety management system, policies, procedures, and practices to identify potential hazards and assess compliance with relevant regulations and standards. This article provides a comprehensive review of safety audits, focusing on their role in ensuring workplace safety and compliance in Zimbabwe. A comprehensive search was conducted across various databases, including PubMed, Science Direct, Scopus, Google Scholar, and Sage Publications, to gather relevant articles. The relevance of the literature to the topic being studied was assessed by utilising abstracts and key words such safety audits and safety standards. The article examines multiple research studies carried out on the topic and presents a comprehensive summary of the present condition of safety audits in Zimbabwe. The findings indicated that the objective of safety audits is to proactively identify areas for improvement and implement corrective actions to prevent accidents, injuries, and occupational illnesses. The study indicates types of safety audits including compliance audits and management system audits. The article delves into the key components of safety audit processes, benefits of safety audits and challenges and limitations of safety audits in Zimbabwe. The article concludes by emphasising the importance of continuous improvement in safety audits.

Research on Enterprise Legal Service Strategy Based on Compliance Management Optimization

With the background of enterprise compliance management, this paper discusses how to improve the level of enterprise legal service and reduce enterprise legal risks by optimizing the compliance management system. It aims to analyze the current situation and existing problems of enterprise legal services through the analysis of the importance of compliance management. Furthermore, it delves into the case of enterprise legal service strategy based on compliance management optimization to verify the effectiveness and feasibility of enterprise legal service strategy.

The effect of tone, signature, and visual elements in compliance management systems disclosures on financial analysts’ decisions

Numerous corporate scandals, in conjunction with managerial misbehavior, demonstrate both the need for effective compliance management systems (CMS) and the relevance of compliance reporting. Disclosure elements are a major differentiator when reporting on CMS. This study investigates whether the tone, top managers’ signatures, and visual elements affect financial analysts’ perceptions and decisions. We use several theories from cognitive psychology which suggest that positive tone, the presence of signatures, and the combination of textual and visual elements can induce more favorable perceptions of compliance disclosure. In a 2 × 2 × 2 between-subjects experiment with 148 financial analysts from Germany, we manipulate tone (positive vs. negative), top managers’ signatures (present vs. absent), and visual elements (present vs. absent) to measure analyst perceptions of reliability, understandability, and usability, as well as credit risk, purchase, and recommendation decisions. We then sum up these dependent variables to create two new variables, perceptions, and decisions. Our results suggest that negatively toned compliance disclosure positively affects financial analyst perceptions, unless it is combined with a visual, as well as their decisions, unless it is combined with both a signature and a visual element. Additionally, signatures and a visual element have an overall positive effect on analyst perceptions. The study’s results confirm the relevance of disclosure elements in compliance reporting, which should be of interest to preparers, users, auditors, and regulators of compliance disclosure.

Construction of Enterprise Financial Compliance Management System in the Context of Digital Taxation

In the context of digital taxation, constructing an enterprise financial compliance management system is an important means to ensure compliance with tax regulations, optimize tax management, and improve economic efficiency. As a crucial component of modern tax administration, "digital taxation" imposes new requirements on enterprise financial compliance management. This paper aims to explore how to construct an effective enterprise financial compliance management system under the backdrop of "digital taxation" to enhance the quality of accounting information and financial compliance, thereby reducing financial and tax risks and promoting the sustainable development of enterprises.

COMPLIANCE CULTURE IN A LARGE COMPANY

This article proposes an intervention for a large company located in the interior of São Paulo – SP, where the topic addressed is compliance with an anti-bribery management system and the importance of implementing ISO 37001. Compliance aims to minimize risks and guide the company’s behavior in the market in which it operates. It is an internal control system that clarifies and offers security to those who use it. ISO 37001 is a compliance and anti-bribery management system that aligns strategies and processes. Based on this, we conclude the importance of ISO 37001, and how much it adds to the company’s image, improving its reputation.

Whistleblowing Procedures as Part of the Compliance System and Culture of the Organization

Abstract The whistleblower system assumes that an element necessary for proper functioning about an organization is to see irregularities occurring in it. For this reason, whistleblowing and follow-up internal investigations occupy a central place in the organization’s compliance management system and an important role in the organization’s culture. These two areas constantly complement each other. However, compliance systems seem to be a broader concept, where the organization’s culture is part of it. The culture of an organization represents the habits, traditions, and customs of organizations, which are not always written down. It is often referred to as the “company atmosphere.” Compliance is a system of procedures and rules, most often written down, which define procedures for dealing with specific situations, rights and obligations of employees, co-workers, or contractors. The regulations that emerge from the compliance system derive from laws, industry regulations, ethical norms, including the culture of a particular organization. Well-developed and implemented whistleblowing procedures that become part of the organization’s culture for good influence the existence of a highly developed compliance system that guarantees the multifaceted success of the organization.

Compliance Risk Assessment in the Banking Sector: Application of a Novel Pairwise Comparison-Based PRISM Method

Up-to-date compliance management uses a risk-based approach based on international standards. In addition to techniques and practices, implementing compliance measures is determined by principles and culture. Compliance risk assessment is an evolving field in theory and practice. Compliance risk management is complex and highly dependent on the decisions of experts. This article presents a new compliance risk assessment method based on a commercial banking case study. In the study, the Guilford method is used to extend the Partial Risk Map (PRISM) assessment technique, and the steps of the proposed pairwise comparison-based PRISM method are described in detail. Since risk assessment is critical to the operation and development of compliance management systems, the proposed risk assessment method involves testing individual evaluations’ consistency and the results’ robustness. The best-fitting and outlier experts can be identified based on testing the impact of individual expert rankings on the aggregated ranking. The main finding is that top partial risks can be identified by applying the proposed pairwise comparison-based PRISM technique; therefore, possible optimal risk mitigation strategies and measures can be designed.

Compliance Standards in Continental Europe – Same, Same but Different!?

Abstract This article deals with the ever-present hot topic of compliance and the related standards for a compliance management system (cms) in Continental Europe. It covers the existing legal regulations, the current case law, and the latest developments in Germany, France, and Italy with regard to the requirements for an effective cms. It also takes a look at the criteria that top management must fulfil in order to meet individual compliance requirements – and minimize the risk of liability. In addition, the authors also put the new iso standard 37301:2021 under the microscope and identify a common ground between the various national positions.

Corporate Compliance Non-prosecution Reform in China: Who Should be the Target of Application?

Along with the widespread use of deferred prosecution agreements in criminal justice in several countries around the world, there is a new trend of deferring prosecution in corporate criminal cases for subjects who meet the conditions. In order to improve the modernization of enterprises and strengthen their ability to deal with criminal legal risks, China introduced a corporate compliance management system in 2007. In 20202, under the leadership of the Supreme People's Procuratorate, China began to explore the reform of "corporate compliance non-prosecution". In the reform of corporate compliance non-prosecution, "double non-prosecution" should be established in the context of China's corporate structure and judicial background. Since the responsibilities of the enterprise and the individual can be separated, compliance non-prosecution can be adopted for enterprises in large corporate criminal cases. Since the responsibilities of the enterprise and the entrepreneur are "combined into one," prosecutors can apply a non-prosecution after plea of guilty to the entrepreneur in micro and small enterprise criminal cases.

ОСОБЕННОСТИ РЕГУЛИРОВАНИЯ АНТИМОНОПОЛЬНОГО КОМПЛАЕНСА

The article examines the peculiarities of antitrust compliance regulation. Currently, compliance risks occupy an important place in the activities of companies, since they have a high degree of danger. The compliance and risk management system should be implemented through the risk management unit not only in the credit and banking sectors, but also in entities operating in other areas. Control procedures in the field of antimonopoly compliance at the moment in Russia are legally located only at the initial stage of development, it is necessary to improve and implement the compliance function in different areas.

Implementation of an integrated approach of the compliance system for the socio-economic development of the company

To ensure compliance with the law and the obligations assumed, the company needs a management system that will ensure this compliance. Compliance is an integral part of the management system and ensures compliance with the regulatory environment, the norms of corporate culture and business ethics; identifies risks of non-compliance of organizations and employees with legal norms, established regulatory rules and standards; carries out measures to eliminate the risks of applying legal sanctions or regulatory sanctions, significant financial loss or loss of reputation as a result of non-compliance with business regulations. In an organization, compliance is applied through the implementation of a compliance management system, which is a complex of interrelated and interacting elements of the organization to ensure its compliance with the requirements of the regulatory environment and achieve its goals. In the article, the author presented how to implement a compliance system in an enterprise.

Enterprise data security compliance strategy: A study based on typical cases

Data security compliance management is the fundamental premise that data application does not infringe on the interests of countries, enterprises and individuals. It is an important foundation for realizing the driving role of data elements. Based on the data security compliance management practices of typical enterprises at home and abroad, this paper summarizes the excellent practices of leading demonstration enterprises, and proposes six key strategies for enterprise data security compliance, including classification of typical data application scenarios, analysis of key links of data security compliance application, formulation of data security compliance application management system and standards, optimization of data security compliance application process mechanism, formulation of whole-process management measures of data security compliance, and improvement of data security compliance guarantee mechanism, as to provide references for the research and construction of enterprise data security compliance management system.

Whistleblowing as a tool for HR compliance management system – survey report

Purpose: To present an excerpt from author’s own study conducted among HR professionals, managers and directors in December 2022 in Poland as part of the research project 'HR Compliance in HR Risk Management'. The aim of the article is to characterise whistleblowing as a tool of the HR Compliance Management System and to identify differences in the evaluation of the process of reporting wrongdoing and undesirable behaviour in organisations depending on the job position of the respondents, the size of employment in the company, the form of ownership and the industry. Design/methodology/approach: A proprietary survey questionnaire was developed. The study was carried out using a diagnostic survey method. A computer-assisted web interview (CAWI) and a computer-assisted telephone interview (CATI) were used. Statistical methods were used to analyse the survey results, including chi-square test with Yates’ correction, Kruskal-Wallis test. Findings: Whistleblowing is an instrument for detecting wrongdoing in organisations, being one of the three pillars of HR Compliance and an important tool of the Compliance Management System. Differences in the evaluation of the various elements of the whistleblowing system have been diagnosed. One-third of the respondents do not have a clear opinion on the evaluation of a well-established whistleblowing system. In medium-sized companies, respondents' rating is higher than in other organisations in terms of evaluating internal channels for whistleblowing, as well as protecting whistleblowers from retaliation. The HR department is the entity empowered to receive and coordinate the handling of whistleblowing reports in the workplace in public organisations, which stand out with the highest average rating of providing anonymity to the whistleblower and granting protection to the whistleblower against potential retaliation. Differences in rating by job position relate to issues of organisational culture, employee confidence in the proper functioning of the company's whistleblowing system, the scope of reportable wrongdoing within the company, the preparation and provision of internal channels for whistleblowing. On average, professionals rate the whistleblowing system in organisations lower. Research limitations/implications: The research sample was 205 units. The survey was not randomised and therefore the results developed are not representative and do not allow generalisation and drawing conclusions about the phenomenon on a national scale. Practical implications: The results obtained from the research may be useful for business owners, managers, human resources and compliance professionals who are responsible in organisations for implementing systemic whistleblowing solutions in the workplace. Social implications: Building awareness of whistleblowing and its key role in the HR Compliance management system in companies. Originality/value: The article is of cognitive value for the development of management and quality science in the area of human resource management and organisational risk management. It contributes to the development of knowledge on whistleblowing in companies from a management perspective. Keywords: whistleblowing, whistleblower, compliance risk, HR Compliance, personnel risk, compliance management system. Category of the paper: Research paper.

A Comparative Study of Compliance Management Frameworks: PENELOPE vs. PCL

Due to pressure from regulatory authorities, the requirement to remain compliant has tremendously increased over the last decade. To support compliance-related activities, a plethora of compliance management frameworks (CMFs), compliance languages and systems have emerged, which is on one hand advantageous, but may cause confusion when deciding which CMF can be used to best fulfil the organisation’s internal requirements. This is due to the lack of acceptable compliance tools and methodologies in the compliance domain to uncover and compare the multidimensionality of capability between different frameworks and users’ needs, which give raise to the question of how to formally evaluate a CMF. In this paper, we propose methodologies to formally evaluate CMFs, compliance languages and systems, in particular the underlying formal language of a CMF; and present the formal evaluation of two prominent formal language-based CMFs, namely, PENELOPE and PCL, with a business contract using formal analysis approach. Our evaluations formally validate that the proposed methodologies are instrumental in deciding on the suitability of a CMF when is comes to evaluating the underlying formal logic of the framework to represent different types of norms.

Discussion on the construction path of the compliance non-prosecution system

Chinese compliance non-prosecution system conforms to the criminal policy of "combining leniency with strictness" and social public interests, and helps people's procuratorates to fully participate in social governance and prevent enterprises from committing crimes again. The current pilot units in China mainly adopt the mode of relative non-prosecution and conditional non-prosecution. The former is inconsistent with the value pursued by the compliance non-prosecution system, and the latter should be reformed in a targeted manner. The applicable object of the compliance non-prosecution system shall be the large and medium-sized enterprises, and shall not be subject to the influence of the degree of criminal penalties. Moreover, the people's procuratorates shall apply the system to the large and medium-sized enterprise that conforms to the social and public interests, pleads guilty and accepts punishment, and is possible to transform successfully, and shall decide to prosecute or not prosecute the enterprises involved in criminal cases according the effectiveness of the special compliance rectification plan and the relevant compliance management system of an enterprise.

A Web-Based Data P rivacy Compliance Management System Centered on the Data Privacy Act of 2012 For Business Process Outsourcing Companies

A Web-Based Data P rivacy Compliance Management System Centered on the Data Privacy Act of 2012 For Business Process Outsourcing Companies

Tax Compliance as an Element of the Corporate Compliance Management System

The aim of the paper was to identify areas of the compliance management system and assess the advisability of including tax compliance within the compliance management system. The methodology involved an analysis of relevant literature, legal acts and compliance standards. The empirical part presents the results obtained, having analysed areas of compliance management systems in a sample of ten entities listed on the WSE and included in the WIG20 index. The studied entities were found to present a variety of information on compliance management systems without taking into account the area of tax compliance. According to the author, the implementation of a coherent overall compliance management system would bring many benefits regarding the fulfillment of tax obligations – e.g. in the field of Mandatory Disclosure Rules (MDR) or transfer pricing – and also facilitate the conclusion of the so-called cooperation agreements in the area of taxes and the Advanced Pricing Agreements (APA).

Comparative Review of the Latest Concept in Compliance Management & The Compliance Management Maturity Models

Like many other management systems, the compliance management system needs to be measured to know how exemplary the implementation is. The Compliance management maturity model (CMMM) is one measurement method that can help the organization assess the degree of Compliance Management implementation and the effectiveness of compliance management practices to help the organization achieve its objectives. To determine and identify the state-of-the-art CMMM, this study will enumerate and synthesize current CMMM and map their similarities and differences. Furthermore, to determine if the existing enterprise CMMM can measure the current Compliance Management practices by using the ISO 37301 international Standard as a proxy for a state-of-the-art Compliance Management system. The synthesizing process of the enterprise CMMM uses the literature review approach on the existing CMMM and ISO 37301 as the primary benchmark reference. The findings show that despite organizations facing increasing complexity and organizational characteristics of internal and external regulations, the CMMM as Compliance Management measurement tools are very few. The result also shows that the existing CMMM cannot cover all the current CMMM requirements needed from the International Standard.

About the Calculation of the Compliance Value and its Practical Relevance

Corporate investment in compliance in general and compliance management systems (CMS) in particular, follow the cardinal management obligation to always obey the law (so-called “management duty to legality”). But does the compliance function as any other corporate investment really add value favoring all shareholders? The socially desired answer should be probably “yes”, but the business reality shows a different picture: the measurement of the compliance value is a “blind spot” in the scientific theory and research as well as in the corporate practice. This paper analyzes reasons for that “blind spot” and explores the systematization of the compliance value drivers setting up a practical model that monetarizes these effects as well as calculating the added value and ROI of compliance. The author concludes that this quantification is particularly relevant to practice, as the compliance function must be able to measure the quantified impact(s) of the compliance function in order to demonstrate its value to management, shareholders, as well as all interested parties, and to justify and strengthen its role increasing the effectiveness of the CMS as part of the company’s “second line of defense”.

Tax and Transparency: Reporting in Accordance with the Global Reporting Initiative

The issues of ‘sustainability’, ‘transparency’, and ‘taxes’ are linked through the latest addition to the Global Reporting Initiative Standards (GRI 207: Tax 2019) for sustainability reporting. (Global Sustainability Standard Board, GRI 207: Tax 2019, 5 December 2019, https://www. globalreporting.org/standards/gri-standards-download-center/gri207-tax-2019/). The first part of this article deals with the basics of sustainability reporting using the GRI framework, its application, and the incentives for companies to extend it to tax aspects. In the second part, the individual regulatory areas of the standard GRI 207: Tax 2019 published on 5 December 2019 are analysed in detail. Sustainability, transparency, GRI 207, country-by-country reporting, non-financial reporting directive, tax compliance management system, tax risks, UN sustainable development goals.