The role of finance has changed — from helping a business understand the financial implications of operational decisions to helping it understand which decisions will improve its financial position — all factors considered.
As companies prepare for increased regulation, scrutiny, and oversight, the prudent are evaluating their compliance and control systems. CFOs and their reports understand when there is the need for change in compliance, control and risk practices, as well as the need for clearer governance and accountability structures.
In the aftermath of the near-economic meltdown, many CFOs are helping their companies achieve significant and sustainable cost reductions through the downturn. Is yours?
The need for agility — both nimbleness and resilience — has never been greater. Finance has to balance today's need for efficiencies with tomorrow's need for the people and resources that are the incubators of growth.
As a member of the Compliance Management team, the finance department helps the organization gain control over diverse risks through consistent, coordinated and sustainable strategies that are principles-guided, step-by-step, logical and scalable, using methods that integrate governance, risk and compliance activities into manageable and sustainable processes to:
- Identify and analyze vulnerabilities and unmanaged risks
- Improve the content, quality and timing of governance, risk and compliance analysis and reporting
- Control the growth of governance, risk and compliance-related expenses
- Ensure processes enable business resources to focus on core functions and revenue generation
- Establish timely and consistent approaches compliance programs assessments across business units
- Establish enterprise-wide views of gaps and improve risk response strategies
- Streamline compliance programs across the enterprise to gain efficiencies and improve effectiveness
- Establish consistent policies and standards across the enterprise to enforce ownership and accountability
- Leverage technology to aggregate controls information to rapidly identify and report exceptions, as well as improve information quality
- Assist in navigating the labyrinth of government requirements, analyzing issues and recommending solutions
- Plan, organize, manage and conduct audits, verify compliance with corporate policies, plans, procedures and legal requirements including Sarbanes-Oxley, USA Patriot Act, Federal Acquisition Regulations (FAR), Cost Accounting Standards (CAS), Truth in Negotiation Act (TINA), International Traffic in Arms Regulations (ITAR), Export Administration Regulations (EAR), Office of Foreign Assets Regulations (OFAC), and Customs (CPB) Regulations amongst others.
- Assess the effectiveness of controls, accuracy of records and efficiency of operations as it relates to compliance with government regulations
How we can Help
Visual Compliance provides robust, cost-effective automation solutions and regulatory content to manage all aspects of foreign trade and export control compliance. With over 30 years of experience helping companies easily gain control and visibility over their compliance issues and processes, our solutions are relied on by more than 4,000 companies at home, and abroad to:
- Conduct Restricted and Excluded Party and Specially Designated Nationals screening
- Research current Federal Export and Import Control Regulations and Sanctions
- Access documentation and audit trails for internal and government due diligence protection
For more information, call toll-free 1-877-328-7866 and talk to one of our foreign trade compliance consultants. They'll help you analyze your requirements, evaluate your options, and provide focused demonstrations.
Or send an email.
