Once you have developed and documented your Risk Management and Internal Control programs — available online through CompliSpace Fundamentals — CompliSpace Assurance provides the perfect platform to make these programs come alive within your organisation.
Traditionally, the methodology for managing risk and compliance has been manual, paper-based procedures and checklists, with manually-derived reports. These methods worked well when the number of risks, compliance obligations and people involved were minimal. However, as the complexity of the risk and regulatory environment has increased, these processes are proving inadequate. Timeliness and reporting quality are also becoming critical.
Effective corporate governance requires an approach that focuses on the progressive improvement of an organisation's compliance framework and performance - not just document management or 'tick and flick' reporting to regulators. The right information is required at the right time to identify improvements and new approaches. That's where CompliSpace Assurance comes in.
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CompliSpace Assurance is a secure, externally hosted, online workflow engine designed to capture, assign, manage and control key compliance, risk management and incident based tasks. The technology has been developed by Lawlex, a division of the Anstat Group, a wholly owned subsidiary of SAI Global Limited. SAI Global is a public company listed on the Australian Securities Exchange which specialises in electronic publishing, compliance and business improvement solutions. The technology utilised by CompliSpace Assurance has now been adopted by government and many of Australia’s top companies as their solution of choice.
Think of CompliSpace Assurance as a cut down version of the Lawlex system that has been specifically designed to meet the needs of the middle market. CompliSpace Assurance has been designed with two key concepts in mind:
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| Simplicity - We have gone to great lengths to demystify the functions of Compliance and Risk and to translate key obligations into plain English.
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| | Flexibility - CompliSpace Assurance is not an “off the shelf” solution. It is designed to be tailored to your particular needs and requirements
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