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Compliance Fridays: Risk Assessments

Buckner assists organizational clients with developing, auditing and enhancing compliance programs. The firm’s “Compliance Fridays” blog series is designed to provide clients and interested readers with best practices and strategies for, as well as insights into, compliance. An effective compliance program helps an organization, and its employees, agents and officers, conduct operations and activities within the scope of the law and internal policy; ethically; and with the highest level of integrity and professionalism. Today’s post discusses the role of risk assessments in a compliance program:

Any organization, from a small start-up to a large multi-national corporation, committed to developing and maintaining a comprehensive compliance program should consider, and plan to mitigate, risk. A risk mitigation plan, according to an online article published by the MITRE Corporation (“Risk Mitigation Planning, Implementation, and Progress Monitoring”), is “the process of developing options and actions to enhance opportunities and reduce threats to project objectives. Risk mitigation implementation is the process of executing risk mitigation actions. Risk mitigation progress monitoring includes tracking identified risks, identifying new risks, and evaluating risk process effectiveness throughout the project.”

Source: The MITRE Corporation, “Risk Mitigation Planning, Implementation, and Progress Monitoring” (September 2013), available at:
http://www.mitre.org/publications/systems-engineering-guide/acquisition-systems-engineering/risk-management/risk-mitigation-planning-implementation-and-progress-monitoring.

Contact attorney Michael Buckner (+1-954-941-1844; mbuckner@bucknersportslaw.com) for more information on, or to assist with auditing, a compliance program.

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About Michael L. Buckner, Esquire

An attorney who provides clients with internal investigation, civil litigation, estate planning and compliance services.

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