While compliance is crucial, a more comprehensive approach goes beyond simply following the rules.
This is where “government risk and compliance” comes in.
This approach acknowledges that government regulations inherently come with risks. These risks could involve potential fines, penalties, or even reputational damage if you’re not compliant.
Government risk and compliance takes a broader view. It focuses on both identifying and managing those government-related risks, while also ensuring strict compliance with the regulations themselves.
Think of it like a seasoned driver who understands the risks of speeding (getting a ticket, causing an accident) and takes steps to manage those risks (obeying the speed limit, being a careful driver). This driver is not just following the rules; they are actively managing the risks associated with those rules.
By embracing government risk and compliance, you move beyond passive compliance and become a proactive manager of your organization’s risk profile.