The 4 steps to successful regulatory monitoring

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n operational department of the company may be dedicated to monitoring and ensuring compliance with regulations specific to its field of activity. For example, the human resources department (HRD) may be responsible for monitoring changes in legislation and the Labor Code. The occupational health and safety department, on the other hand, manages the monitoring of regulations related to the safety and health of employees in their professional activity. Such an organization requires an excellent level of coordination between departments.

External service providers
In order to focus entirely botim database on their core business, some companies use external service providers specializing in regulatory monitoring. These service providers are responsible for providing services for the collection, analysis and dissemination of regulatory information relevant to the company.




In order to successfully monitor regulatory affairs, 4 essential steps must be implemented.

Define your business needs and objectives
First and foremost, it is important to define the needs and objectives of the business . Take the time to identify the regulatory areas that are relevant to your business, as well as the potential risks associated with non-compliance. If necessary, call upon an expert advisor in compliance and regulatory monitoring.

Selecting the right sources of information
Finding information is a very good thing, unfortunately, you are not immune to having poor quality or obsolete sources that could seriously harm your business. It is strongly recommended to turn to official government websites , regulatory bodies, publications specialized in your sector of activity, newsletters or even professional or interprofessional associations. Make sure that your sources are the most up-to-date and reliable to obtain reliable and relevant regulatory monitoring.

Collect, filter and analyze information