News & Noteworthy

The Value of Snapshot Assessments

Posted by Rick Phipps on Jul 30, 2019 10:27:53 AM

The goal of all good systems is incremental improvement. This is as true in export control compliance as it is in other corporate activities. Improvement doesn’t happen accidentally but rather as a result of specific steps, regularly and studiously performed. You need to periodically examine the system, identify the weaknesses, design and deploy the remedies, and then test again at regular intervals. This rigor promotes continuous evolution and it enables the system to recover from the inevitable internal and external changes that might otherwise compromise its function.

Of all these steps, the Compliance Assessment is the first and most important. You need to regularly measure your system against its baseline performance indicators, regulatory requirements, and industry best practices. Doing this enables you to determine the effectiveness of the compliance system and, most importantly, identify the gaps that need to be addressed.

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Topics: Export Compliance, "Risk Assessment"