Tag: mock audit

Categories
Compliance Tip of the Day

Compliance Tip of the Day – The Mock Audit

Welcome to “Compliance Tip of the Day,” the podcast that brings you daily insights and practical advice on navigating the ever-evolving landscape of compliance and regulatory requirements. Whether you’re a seasoned compliance professional or just starting your journey, our goal is to provide you with bite-sized, actionable tips to help you stay ahead in your compliance efforts. Join us as we explore the latest industry trends, share best practices, and demystify complex compliance issues to keep your organization on the right side of the law. Tune in daily for your dose of compliance wisdom, and let’s make compliance a little less daunting, one tip at a time.

This week, we have a 5-part series on audits adjacent to compliance, and today, in this concluding Part 5, we consider the Mock Audit.

For more on this topic, check out The Compliance Handbook, a Guide to Operationalizing your Compliance Program, 6th edition, which was recently released by LexisNexis. It is available here.

Categories
31 Days to More Effective Compliance Programs

The mock audit


A program manager in a power plant process group told me about the “mock audit” that his company performs in its power plants across the country. He explained that his industry is heavily regulated at both the state and federal level. Power plants are subject to numerous levels of oversight including various ISO standards to which they must comply. ISO is the International Organization for Standardization, and it develops and publishes International Standards for various industries and organizations.
The DOJ has continually made clear that compliance audits, with actionable remediation plans, are a key component of any effective compliance program. The concept of the mock audit is one that can facilitate continuous improvement. It is a process designed to help your employees do business in a more compliant manner and it is a tool that should not be overlooked.
Three key takeaways:

  1. Always remember compliance folks and the business folks wear the same color shirt.
  2. Review your findings with the group being assessed.
  3. Use the mock audit to both learn and educate.