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The process includes defining and implementing compliance steps and process. Next, the companies will recommend a preventative solution that incorporates risk mitigation. This part of the process includes using systems and organizations for compliance techniques. Finally, the companies will use a problem solving approach to determine which solutions to implement into the compliance effort.
The companies will begin to implement its enterprise risk management system by developing an appropriate internal control and corporate governance system. In the wake of high-profile corporate scandals and subsequent regulatory legislation, reporting internal controls has become a requirement...
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