FircoSoft: Anticipating the regulator: Building compliance systems that are regulator ready
Compliance has evolved considerably over the last 10 years: regulations have become increasingly stringant and regulators are demanding that audits go deeper; asking compliance officers to show them every aspect of the policy implementation.
We are all in the age of big data and this includes the compliance function. Compliance Systems must offer complete traceability and include analytics that provide the Regulator access and inspection rights. Future Compliance systems will require an unprecedented level of transparency and analytical insight.