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The subject of compliance plays an important role at more and more companies, and not just since the recent bribery and corruption scandals at Siemens. Ever more laws create more and more obligations with more and more risks that make dedicated compliance management urgently necessary.

In business jargon, compliance describes the totality of the measures for dealing and complying with internal and external requirements and rules from the perspective of a company. The governing entities (board of directors, supervisory board, chief executive officer) as well as all employees must ensure that the company is organized in a careful manner in conformity with the law.

Legal requirements such as KonTraG and the German Corporate Governance Code explicitly require compliance. Even international law, as in the USA SOX or Article 41 of the EU Financial Statement Auditors' Directive (so-called EuroSOX), places considerable demands on the company, which are to be fulfilled in the context of compliance. In addition to this legal consideration, compliance also has an ethical dimension: As such, self-imposed rules, internal guidelines or moral principles are to be respected and fulfilled through proper behavior.

These compliance guidelines and standards require new approaches and innovative instruments in order to effectively support the ever more complex corporate processes, and to reduce risks. Successful compliance management makes the provision of an internal control system essential. Compliance Management includes many areas for which The Quality Group offers proven solutions and products:

  • Compliance Management
  • Compliance risks
  • Compliance program
  • Compliance organization
  • Compliance communication and information
  • Compliance monitoring and improvement

Contract management forms the foundation of a company's commercial activities and should therefore be part of such a monitoring system. An obligation to implement a compliance process focused on contract management can be inferred from the corporate organization obligation for the company's governing entities. The execution, administration and analysis of contracts is part of the daily work of many departments and thus also part of the potential for risk that arises from contracts in many configurations.

With respect to how an IT-based contract management system the businessApp platform LCM can effectively support compliance in the company, see for example our international customers such as adidas AG, Carl Zeiss AG, Henkel AG & Co. KGaA, Hugo Boss AG or Royal Ahold. LCM covers applicable international general legal frameworks and regulations such as SOX or European directives from EU Governance, for example. This ensures not only the protection of assets and the prevention, reduction and detection of errors and irregularities, but also the reliability, completeness, timeliness and reliability of financial reporting and the ability to audit the current contractual relationships.

Risk minimization with LCM Compliance Excellence

Clear, transparent regulations, guidelines and accountability with user support

  • Integration into business processes
  • Compliance with the reporting obligations
  • Integrated Incident Management
  • Improving the performance of the organization at the same time ensuring compliance

Other useful arguments and practical examples can be found in our Best Practice Compliance Excellence

See for yourself and ask for best practice examples. We are happy to also make contact with one of our reference users to assist you directly. We look forward to your inquiry. Take advantage of our free webinars on compliance for more information and register today for one of the dates.

The culture of compliance as the key to sustainable corporate management

Whereas just a few years ago the term "compliance" was more of a foreign word for many small and medium-sized companies and was to be found in the linguistic usage of large listed corporations, the picture has changed noticeably in recent years. It is not only the legislature and the courts that are increasingly demanding that companies and their employees comply with our legal system by tightening up the law and issuing stricter rulings. Nevertheless, when reading the press, one comes across a seemingly never-ending number of compliance violations.

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Schmidt, Let´s talk about

Let's talk about "C"

No, not about the "C" in "Corona", which now, in spring 2021, after more than a year, still - as it seems - holds us captive. We really can't hear it anymore and wish that "it's over now". I, too, wish for a shared experience and personal meeting in Leipzig at the "DiALOG 2021 - Expert Forum for Digital Transformation".

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Compliance 2020 in the medium-sized business sector

Is it enough in medium-sized companies to somehow comply with the applicable law? Is it only for corporations like Siemens, VW & Co. that there are significant risks of legal violations? Does a code of conduct quickly copied from a competitor and a short speech at the company party dissolve all potential risks?

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Gestern utopisch, heute ein Muss!

Yesterday utopian, today a must!

Compliance Excellence?

Although German companies have never been in as good a position in terms of compliance as they are today, last year German companies had to record the most compliance cases in a country comparison. According to the international "Whistleblowing Report 2019", compliance problems occurred most frequently in German companies with a good 43%, followed by British companies with 40%, French companies with 38% and Swiss companies with 35%. Yet compliance is not difficult at all: Don't just strive for compliance, strive for compliance excellence!

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Compliance or the belief in the right attitude

From the Aufschlag und Return series

Dear Mr. Schaar,

alas, when it comes to serve, return, spin and slice, I get all wistful as a former recreational tennis player. I spent many hours with great people on and off the court. Sometimes lost. Sometimes won. Showed emotions in good and bad actions. Made mistakes. Practiced! Practiced playing together. Experienced and modeled fair behavior. In sports, all participants learn so much about compliance.

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Bild Trends-Compliance-Trends, ein unterschätzter Wettbewerbsvorteil

Compliance, an underestimated competitive advantage

Compliance in the company is much more than a topic of liability avoidance. Properly understood and implemented, compliance makes an important contribution to the optimization of operational business processes and thus becomes a competitive advantage. In his article, Prof. Dr. Andreas Kark from Heilbronn University examines the classic definition of compliance, the modern understanding of compliance, and compliance risk management as part of sustainable corporate management.

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Information by Compliance

Electronic workflows accelerate the sales process at TIGGES

Winner DiALOG-Award 2015: TIGGES GmbH und Co.KG

TIGGES combines the traditional promise of quality "Made in Germany" with efficiency and economy to create its own entrepreneurial character. Supplemented with service competence, professional qualification and personal commitment, this results in a corporate culture of absolute reliability in which corporate compliance is very important.

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Acting future-proof

Compliance in digitalization

Our world is continuously changing. From time to time, this change is so great that it permanently shakes existing structures and processes, and then we speak of a revolution, such as the "Industrial Revolution". This process does not happen overnight, but rather sends its harbingers, only to progress ever faster and more incisively. With digitization, we are once again in such a situation.

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"Siemens/Neubürger Ruling" of the Munich Regional Court I

and implications for practice

Dr. Stefan Krüger and Susanne Quecke, Attorneys at Law at Mütze Korsch Rechtsanwaltsgesellschaft mbH

In a highly regarded ruling (Case No. 5HK O 1387/10), the Regional Court of Munich I dealt with the design of compliance organizations and the associated organizational duties of the board of directors. Dr. Stefan Krüger and Susanne Quecke, attorneys at law at Mütze Korsch Rechtsanwaltsgesellschaft mbH, discuss the content and practical implications in their article.

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Bild Trends-Compliance-Norm, Standard oder lieber Praxis

Norm, standard or rather practice?

Introducing compliance management in a company is certainly not an easy project. On the one hand, one does not want to create bureaucratic overhead, but on the other hand, the so-called board liability should be reduced so that possible liability claims from non-compliance actions of the company can be settled quickly. Ulrich Palmer from 3GRC presents the IDW auditing standard PS 980 and standard ISO 19600 as suitable tools for the introduction.

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