Sanctions Compliance Program- Internal Controls

The most frequent questions we receive on internal controls: Policies, instructions and procedures as internal controls  Internal controls are multiple different actions and tools working together to form a comprehensive package of measures which are the means to minimize the sanctions risks to your company. There should be an inherent interplay between the findings ofContinue reading “Sanctions Compliance Program- Internal Controls”

Sanctions Compliance Program- Risk Assessment

The most frequent questions we receive on risk assessment: What is a risk assessment? A risk assessment is the means of identifying areas in your organization’s operations where there is inherent risk for potential sanctions violations or misconduct. Effective risk assessments are conducted regularly or as an ongoing exercise using a defined risk-based methodology thatContinue reading “Sanctions Compliance Program- Risk Assessment”

Sanctions Compliance Program – Management Commitment

Management Commitment means that senior management ensures the organization’s compliance with applicable sanctions programs by promoting a “culture of compliance” within the organization. This means that senior managers ensure that employees are aware of their responsibilities, inspire them to be compliant, and allocate adequate resources to enable the organization to be compliant.