PHAROS COMPLIANCE
  • Home
  • Compliance Manual
    • Table of Contents
    • INTRODUCTION -STORY LINE
    • Meet the Team
    • Preface - Why this book is different
    • PART I: Why Compliance?
    • Part II: The journey - What will compliance deliver? >
      • Risk Control Framework
    • PART III: ARRIVAL AND FRUSTRATION: THE SCOPE IS BIGGER THAN ANTICIPATED!
    • PART IV: THE LAST HURDLES
    • PART V: MISSION ACCOMPLISHED
  • Community
  • Contact
  • DISCLAIMER
  • About us
  • Home
  • Compliance Manual
    • Table of Contents
    • INTRODUCTION -STORY LINE
    • Meet the Team
    • Preface - Why this book is different
    • PART I: Why Compliance?
    • Part II: The journey - What will compliance deliver? >
      • Risk Control Framework
    • PART III: ARRIVAL AND FRUSTRATION: THE SCOPE IS BIGGER THAN ANTICIPATED!
    • PART IV: THE LAST HURDLES
    • PART V: MISSION ACCOMPLISHED
  • Community
  • Contact
  • DISCLAIMER
  • About us

PART I




Why Compliance?



​What is the goal and added value of an integrity & compliance program?


Two essential questions

When it comes to designing, implementing and embedding a integrity & compliance program, two questions should always be addressed for every stakeholder:
  1. Why should I care?
  2. What can I do to help?
Only when the answers on these questions are considered throughout the process, commitment and risk ownership of stakeholders can be ensured.
They have to be made aware why the compliance topic is relevant to them and how it links to their processes and daily work. If they understand how they fit in and how their decisions and actions can impact compliance in their own process and in the end-to-end process at other departments, they can help in setting up procedures and risk mitigating measures that are in line with their working practices and align with related departments. If the stakeholders have not been involved in the design, the implementation is only top down i.e. a one way street, and it will be difficult to implement the program. If the stakeholders have been made aware of their stakes, right from the beginning and have been involved in the design, there is buy-in and support bottom up.
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Why should I care?

Examples of questions the stakeholders may have:
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