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The challenge of incorporating an organization’s value system

The rules and regulations that apply and impact the compliance aspects of a CEP provide an inherent element of stability to the organization. The laws that provide the basis for the underlying requirements for what an organization must do to operate legally within its industry are often well codified and easily accessible. In addition, because these are based on laws, a compliance professional can monitor legislative activity to identify if new laws are being considered or if changes to current laws are proposed. Just as finalized laws are relatively easy to find, many law-making bodies provide public notices on their activities, which can serve as early signals of potential, impending changes.

Now, although rules and regulations may be readily available and accessible to compliance professionals, this doesn’t necessary mean that all compliance professionals may agree on the meaning of these rules and regulations, and they may also differ on how they will implement mechanisms within their respective organizations to satisfy these rules. However, this variability of how different compliance professionals may respond to these rules and regulations is often a matter of choice or preference that may be driven by factors that are specific to the organization.