This checklist is designed to facilitate the annual review of compliance policies and procedures within the organization, ensuring all regulatory requirements are met and identifying areas for improvement.
Examine all existing compliance policies to ensure they are current and reflect any changes in regulations.
Research and document any new regulations or changes to existing regulations that affect the organization.
Perform a risk assessment to identify potential areas of non-compliance and prioritize them based on impact.
Gather input from different departments regarding the effectiveness of current compliance measures and any challenges they face.
Revise the compliance training material and schedule training sessions for employees to ensure understanding of updated policies.
Compile findings and recommendations into a compliance review report for management review.
Establish specific action items and deadlines for implementing necessary changes identified during the review.
Plan the timeline for the next compliance review to ensure ongoing adherence to regulations.