eBook: 6 Essential Elements of a Compliance Program

A compliance program ensures that a business complies with laws and regulations relevant to it.

Some small businesses believe compliance is only for large organizations. Nothing could be further from the truth. SMBs need a compliance program to minimize risk and decrease inefficiencies.

HIPAA violations can cost anywhere between $100 to $50,000 per violation and run as high as $1.5 million per calendar year of neglect. Similarly, GDPR violations can cost anywhere between 2% to 4% of company turnover.

To help you effectively achieve compliance, we’ve developed a checklist that lets you understand the Six Essential Elements of a compliance program.

  1. Executive Sponsorship
  2. Business Impact Analysis & Risk Assessment
  3. Chief Compliance Officer (CCO)
  4. Data Governance Strategy 
  5. Monitoring, Testing and Updating
  6. Routine Employee Training
 

Sources: 1. National Library of Medicine 2. GDPR Associates

6 Essential Elements of a Compliance Program

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