We provide Insights

Flexible and versatile solution for conducting corporate inquiries

Why?

Transparency is key to every successful compliance program. This includes various compliance reporting tasks such as a compliance case reporting or risk assessments. In the absence of an appropriate solution, custom forms (e.g. spreadsheets) are often distributed via email and sent back by the recipient after completion. With this approach it is hard to keep track of distribution lists, the data collection progress as well as the validation and central aggregation of the reported information.

How?

CORIN is a web-based solution to conduct corporate inquiries.

It is a flexible and versatile solution for conducting

  • simple ad hoc inquires as well as
  • more complex recurring reporting tasks (e.g. compliance reporting)

Sample Use Case

The current regulatory environment demands that companies conduct Compliance Risk Assessments and proactively monitor and manage the identified risks.

According to the U. S. Sentencing Guidelines organizations must “periodically assess the risk of criminal conduct and shall take appropriate steps to design, implement, or modify each requirement…to reduce the risk of criminal conduct identified through this process.Source: US Federal Sentencing Guidelines, Chapter 8—Sentencing of Organizations

A Compliance Risk Assessment comprises the

  • Identification of Compliance Risks
  • Evaluation of Gross Risks
  • Measurement of Net Risks including Remediation and Tracking
  • Prioritization of Risks and related Compliance Tasks

This enables the Compliance Organization to efficiently allocate limited resources to focus areas where they have a substantial impact on the risk exposure of the company instead of constantly responding to erupting risks (“emergency operations”). Both the initial assessment to identify compliance risks and respective high-risk entities as well as a recurring detailed compliance risk analysis for selected entities can be implemented based on CORIN.

If you are interested, please contact us for further information!