In our glossary, we would like to give you some explanations from the compliance world.

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There are currently 12 glossary in this directory
Compliance Management System

CMS Elements (example)
Tone from the Top, Codes, Guidelines, Standards and Controls, Third Party Due Diligence Audits, Whistleblower System, Help Desk, Training and Communication, Reporting, Monitoring, Effectiveness Checks.

Corporate functions (example)
Purchasing, Disposition, Order Processing, Marketing, Accounting, Finance, Sales, Internal Audit, Compliance, Law

Due Diligence

Due Diligence Process Third Parties
All organizational measures for the execution of a substantive examination of a third party according to previously defined criteria.

Effectiveness check
Audit actions usually based on samples that are performed to determine the degree of compliance with the process specifications.

Internal Control System: An internal control system (ICS) is an essential additional measure to internal audit, that ensures conformity and cost-effectiveness of business processes, safeguarding of company assets as well as the adherence to internal requirements. For this purpose, controls are designed to manage certain risks. Checks are carried out periodically with functional responsibilities and documentation obligations.

ICS Effectiveness Check («Control-Check»)
Check the planned management tests for their conformity with the control description, including independent sample-based audits.

ICS Effectiveness Check («Design-Check»)
Analysis of the control description and verification of its adequacy to sufficiently control the risks associated with the underlying process). Analyse der Kontrollbeschreibung und Prüfung, ob sie adäquat ist, um die mit dem zugrundeliegenden Prozess verbunden Risiken ausreichend zu bewirtschaften).

Internal investigation
Carrying out forensic, including IT-technical investigations to validate a defined hypothesis.

Revisions to "heal" and "repair" identified process deficits.

U.S. Department of Justice