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Principle 11: Compliance and Control - Coggle Diagram
Principle 11: Compliance and Control
Governance Framework:
Objective:
Ensure the establishment of a robust governance framework.
Components:
Roles and responsibilities.
Decision-making processes.
Accountability structures.
Ethical Culture:
Objective:
Foster an ethical culture within the organization.
Components:
Code of ethics.
Ethical behavior promotion.
Whistleblowing mechanisms.
Compliance Monitoring:
Objective:
Regularly monitor and assess compliance.
Components:
Compliance policies.
Monitoring processes.
Reporting mechanisms.
Risk Management:
Objective:
Integrate compliance into the broader risk management process.
Components:
Identify compliance risks.
Mitigate compliance-related risks.
Continuous risk assessment.
Internal Control:
Objective:
Establish effective internal control mechanisms.
Components:
Internal control policies.
Control activities.
Information and communication.
Reporting:
Objective:
Provide transparent and accurate reporting on compliance.
Components:
Compliance reporting processes.
Communication channels.
Stakeholder engagement.