As regulations evolve, employers are more likely to rely on trusted partners to help them meet their compliance needs.
BDO’s Cliff Sussman shares the three key ingredients business leaders need to help ensure they effectively manage their compliance function.
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Transcript:
Cliff Sussman, BDO
The demands on organizations. All types of organizations, small organizations, large organizations is immense today. Whether we talking about the financial reporting requirements, whether we talking about the tax requirements, whether we talking about the regulatory requirements, it's so important to be able to engage a firm that can assist you with all of that. And while compliance isn't something that a lot of organizations are excited about, it's something that's extremely, extremely important.
Every organization needs to manage and mitigate risk appropriately. And if you're not, if you don't have a trusted partner to help you through the necessary compliance and regulatory environment, you're really exposing your organization to a lot of risk. When I think about technology and comply, I really think about, the three legged stool people process and technology. And it's it's really important that organizations have all three of those in place in order to properly manage their compliance function.
Something we are passionate and my team is passionate about doing, is helping with all three of those areas in order to in order to allow us to assist our clients with, with their compliance needs in order to enable success. People, technology and process are key, and that's really going to result in successful compliance for the organization.
