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The Three Cs of Compliance
By: Marie Garcia, Joaquin Ortiz, &
Michael Salamanca
The Three Cs of Compliance
 Communication
 Confirmation
 Correction
Communication
 Clearly understood commitment to do
the right thing
 Appropriate mechanisms in place to
gather & maintain evidence of
compliance
Communication
 Actions rewarding compliance with rules
& punishing transgressions
 Sufficient & flexible reporting
capabilities to meet the existing &
changing compliance
Confirmation
 Record of events
 Record of transaction trails
 Ability to examine management report
 Process for resolving issues
Correction
 Effective handling of incidents
 Noting changes to:

Business objectives

The market

Business environment

Technology

Regulatory & Compliance environments
Correction
 Effective handling of incidents
 Noting changes to:

Business objectives

The market

Business environment

Technology

Regulatory & Compliance environments
Ad

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The 3 C's of Compliance

  • 1. The Three Cs of Compliance By: Marie Garcia, Joaquin Ortiz, & Michael Salamanca
  • 2. The Three Cs of Compliance Communication Confirmation Correction
  • 3. Communication Clearly understood commitment to do the right thing Appropriate mechanisms in place to gather & maintain evidence of compliance
  • 4. Communication Actions rewarding compliance with rules & punishing transgressions Sufficient & flexible reporting capabilities to meet the existing & changing compliance
  • 5. Confirmation Record of events Record of transaction trails Ability to examine management report Process for resolving issues
  • 6. Correction Effective handling of incidents Noting changes to: Business objectives The market Business environment Technology Regulatory & Compliance environments
  • 7. Correction Effective handling of incidents Noting changes to: Business objectives The market Business environment Technology Regulatory & Compliance environments

Editor's Notes

  • #7: www.qualitymag.com/.../Building%20a%20Culture%20of%20Complianc.pdf , 11/11/10