How companies can increase the efficiency of their processes and at the same time to increase the legal certainty the two corporate goals, optimization and compliance of administrative processes not contrary to each other. They can be tracked with the help of six sigma at the same time projects and help companies to become sustainably viable in the future. Check out Martha McClintock for additional information. In addition to the achieved compliance, processes optimized in this way help to reduce costs, save time and increase flexibility. Compliance and efficiency can reconcile itself if a holistic perspective is taken in the process analysis and optimization and the quality of compliance from the eye is lost. Especially medium-sized companies could quickly absorb the changing compliance requirements due to their agility and innovation strength and quickly implement in such a tuning procedure. Compliance refers to compliance with codes of conduct, laws and policies.
The regulatory framework will be always for companies complex, international interdependence and globalization make growing demands and violations often cause considerable damage. These can consist in penalty payments, expensive repairs or image damage. The 8 EU adopted in May 2006 refers directive, for example in detail on the internal control and risk management system. Companies are then responsible to meet all the compliance requirements, thereby ensuring the quality of financial reporting. Failure to threaten sanctions or fines and management be liable even personally, if necessary organisational measures are no was taken, which would have to ensure the legitimate and responsible action of the company and its employees. Therefore, modern companies have a great interest to introduce systems that safely ensure that all relevant regulations are respected within their operation. To Notice that the named rules apply clearly not only for large capital market-oriented companies, but also for medium-sized companies and their supervisory or management bodies. Also, all areas of the company must constantly be adapted to the changing rules of law.