It is a way of thinking through compliance that allows for a discrete set of rules and procedures to optimize the compliance function. The function of a regulatory compliance reporting templateĪ regulatory compliance reporting template is an essential part of your compliance function. Legal and compliance departments do not generate profit or earnings, so why would it be? The compromise between a threadbare compliance function that is regularly playing catch-up and a state-of-the-art compliance function is a regulatory compliance reporting template. That’s not to say it’s impossible to nail compliance, only that the ever-shifting sands make it difficult if it is not the foremost thing on the agenda - which it rarely is. Complying with regulations and standards is a complex, ever-changing business with many different moving targets across all sectors of industry. There is the perception that it will always be the first and foremost thing on the mind of your business, and that a failure in compliance is the point of no return. Compliance can easily be seen as a monolith.
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