and achievements.
Is IT the answer for compliance?
20 May 2009
Can compliance activity be cost and time effective? "Buy-in at board level is the absolute key" says Sultan Noori 
In an article published in the latest edition of IMIS Journal John Bancroft talks to some industry experts on the role of IT as well as individuals on implementing compliance within businesses with the growing compliance legislation.
Answering the question on what is the best approach for businesses to adopt, Mr. Noori discussed how the solution is developing a "high-level policy" and involving the senior management from the beginning. The Financial Services Authority (FSA) has made it a legal requirement for businesses that someone at board level is responsible for regulatory compliance. The reasons seem fair and certain; accounting scandals and the credit crunch which has been creeping in business activities over the recent years. Developing a high level policy and then "fitting and fixing" it in an organisation could be nightmare.
With flood gates of new regulations and legislations it can become even more challenging if a typical approach of managing compliance is adopted and is not documented and controlled across the board.
"Yet, more often than not, the typical approach of managing compliance is either department-by-department, or that each regulation is dealt with on an individual basis. This often leads to a disjointed approach and ultimately, difficulties which result in failure to comply." Commented Mr. Noori.
About Tabaq Software:
Tabaq Software provides expertise in record management, compliance, audit, and business process management. The focus of the company is to provide efficient solutions to organizations to help them achieve optimum growth as well as maintain conformance with regulatory standards. Tabaq understands that in order to grow in today’s demanding corporate environment, companies need a system to ensure that their internal policies are in sync with external regulations influencing them. jComply is a system through which companies can follow a complete 360 process to introduce policies and procedures in the company. The system ensures that the concerned personnel not only study the policy documents but also tests their knowledge and generates comprehensive reports on the company’s compliance level.
The Company is based at Building A, Trinity Court, Wokingham Road, Bracknell, Berkshire, RG42 1PL. Tel: 01344 668400. www.tabaqsoftware.com.
