Compliance Management System: Research, Analysis, Plan and Reflection

This report presents a comprehensive analysis of a compliance management system, detailing the research methods employed, which include both qualitative and quantitative data collection through surveys, interviews, and organizational records. The study examines internal, external, and industry-specific compliance requirements, identifying associated risks, potential penalties, and strategies for ongoing compliance. The report evaluates various compliance management options, such as internal auditors and liaison departments, comparing them based on cost-effectiveness and risk mitigation. The research culminates in recommendations for the organization, suggesting the use of internal auditors and policies for internal compliance, alongside a liaison department for managing external compliance. Furthermore, the report includes a reflective section on the research process, highlighting the mixed-method approach, data analysis techniques, and the use of decision-making tools to determine alternative compliance strategies.

COMPLIANCE MANAGEMENT SYSTEM
COMPLIANCE MANAGEMENT SYSTEM
Name of Student
Name of the University
Author Note

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PART A: Compliance management research plan
Research methods to gather qualitative data and quantitative data
The research method that was used for the purpose of evaluation of the effectiveness of
the existing compliance management system of the organization in the case study is that of a
mixed research technique that is it includes both qualitative research and quantitative research.
Qualitative data will be collected through survey. The data collection tools in this case is
questionnaire and other secondary data collection tools for getting information was done
through- minutes, organization records and other documents. Quantitative data on the other hand
was collected in order to get numerical data about the compliance management system of the
organization. This data was collected through interviews and through observation.
Survey tools for gathering qualitative and quantitative data
The survey tools include questionnaire to gather qualitative information and tools such as
interviews and observation was used in order to gather qualitative information.
Organizational data on compliance management
The organizational data on the existing compliance management system showed that the
compliance management system helps in mitigating some of the major risk however it needs
improvement in order to reduce the risks to the customers.

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Compliance requirements- internal compliance requirements, external compliance
requirements, industry specific compliance requirement
Internal compliance requirements included all those processes and procedures that helped
in complying with all the regulatory rules and regulations. It also includes all the various policies
of the company and other activities. The external compliance system refers to all the regulations
that the company needed to comply with such as different laws applicable to the company. The
industry specific compliance requirement needs the company to meet with various federal and
government rules and regulations. For instance the company belong to the retail industry and
therefore nay laws applicable to the retailing industry needs to be followed by the company.
For all the compliance requirements- areas of organization affected, organizational
compliance data, risks involved, penalties and ways to ensure on-going compliance
Some of the major areas affected due to poor compliance are financial function of the
organization, the human resource function of the organization and others. The risks associated
with non-compliance is that external audits can be conducted by the government, business can be
dissolved and others. The lives of associated people can be affected. The penalty will be imposed
based on the negligence level and can range from a simple monetary charge to even criminal
charges.
The compliance management system options for compliance management
requirement
Risk management systems include- risk identification, quantitative analysis and
qualitative analysis, response and monitoring. In order to ensure the organizational compliance
internally and externally, there are various options. For instance, the organization under study

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can make use of internal auditors, policies and procedures to ensure that all rules and regulations
are being complied with. In order to ensure the compliance requirements externally, external
auditors can be appointed by the company and the company can also establish a separate
Liaisoning department in order to ensure that better relationships with the government are
maintained by complying with the regulations.
Comparison of compliance management options against other criteria’s
For ensuring the internal compliance requirements is that there can be internal auditors,
policies and procedures. Internal auditors can help in meeting the compliance requirement and
the cost of appointing them is also less as compared to external auditors. They can also help in
improving efficiency of operations. In order to ensure external compliance the liasioning
department can be established and external auditors can be appointed. However, the company
can establish a liasoning department as that will not only help in compliance but will also help to
improve the image of the company.
Recommendations
The system that is preferred for ensuring compliance management in the organization is
that of- internal auditors and policies for ensuring internal compliance requirement and for
external compliance requirements a liason department can be established since it will help the
company to save the cost of appointing external auditors and the risks of information sharing can
also be avoided.
PART B: REFLECTION
The type of research undertaken by me for the purpose of this study was a mixed research
because both quantitative research and qualitative research was carried put to gather information

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that is both based on numerical, observations, and through information collected through
surveys. A mixed method of research was used by me in order to gain better understanding of the
compliance system of the organization. The research plan was prepared by me as being the
external consultant of the company I was appointed by the company to undertake close
evaluation of the compliance management system of the company under study. The survey tools
that were used for gathering all the necessary information was that of- questionnaire, secondary
data sources such as the organizational records, minutes, and various other published documents
of the company. In order to analyse the quantitative data, all the numerical data was transformed
into graphs and other representations. Various tabulations are prepared for the same purpose. In
order to carry out the analysis of qualitative data is narrative analysis. With the help of all the
information so analysed, I was able to identify all the alternative methods of compliance
management system to mitigate the risks. For instance the decision making tree can help in
selecting one alternative from among different alternatives.