Federal and state government agencies and several industries emphasize the need to have effective compliance programs as a condition of doing mutual business. Having a strong compliance program will enable partners and stakeholders to gain confidence in an organization’s operations and demonstrate an organization’s desire to minimize its business and financial risk. Regulators heavily weigh the implementation of a compliance program when an organization comes under scrutiny for alleged misconduct.
Lacking an effective compliance program places an organization at a high risk for non-compliant activities or incidents viewed as potentially fraudulent or abusive. Although an organization may have a compliance program in place, this alone will not protect it from regulators or eliminate or reduce business and financial risks. Regulators examine the design of these programs and assess the effectiveness of each one to address non-compliant issues or potential fraud, waste, and abuse.
Many organizations have succeeded in adopting and establishing compliance programs but have fallen short in implementing effective ones due to a lack of subject matter expertise. Federal government regulators highlight this shortcoming constantly as denoted in corrective action plans and compliance enforcement actions.
Aridell is well-versed in establishing and evaluating compliance programs in accordance with regulatory requirements and measuring the effectiveness of compliance programs and plans. Members have developed compliance program protocols for government agencies, created audit tools to test compliance programs, and conducted audits to assess conformity with regulatory requirements and the effectiveness of these compliance programs. Having served in regulatory positions, our team is well-versed in corporate integrity agreements and the compliance activities associated with each one.
Aridell capabilities include:
Establishing Compliance Programs
Developing Compliance Audit Protocols
Auditing Compliance Programs
Measuring Compliance Program Effectiveness
Monitoring Corporate Integrity Agreements
Corrective Action Plans
Compliance Enforcement Actions
Aridell Associates, LLC