The Compliance HUB: Compliance Management System
In this article, we provide some of the background to the Compliance HUB- an expert Compliance Management System - why we are doing what we are doing, and how our Compliance HUB will benefit you. The Cost of Regulation Regulation can operate as a support and a constraint. If you ask any business owner to name barriers to their business, regulation will undoubtedly be high on the list. Regulation is a multi-billion dollar burden on businesses around the world. In Australia alone, Deloitte has put the total cost of compliance for Australia's economy at $250 billion a year. Deloitte estimates that businesses spend $95 billion a year in an effort to comply with regulation. The typical method of managing regulation involves human capital and external spending on consultants and lawyers. Continued Compliance…