How To Create A Great Compliance Report

TL;DR

Learn how to effectively create a concise and impactful compliance report to communicate important information to stakeholders.

Transcript

Hey everybody, and welcome to my  eighth "How To" video of 2022.  I'm so excited because you voted of this video  when I put up a poll on my YouTube channel and   said "which YouTube video would you like me to do  next?" ... How To Do A Risk Based Approach or How  To Create A Great Compliance Report.  And you guys voted for "How To Do...How   To Cr... Read More

Key Insights

• 💁 Compliance reporting is crucial for informing stakeholders about compliance risks and findings.
• ❓ Tailoring the content of a compliance report to the audience is essential for effective communication.
• 👻 Using KPIs and KRIs allows for ongoing tracking and analysis of compliance-related data.
• ❓ Including an executive summary and action items in the report enhances its clarity and effectiveness.
• 🆘 Providing insightful analysis of data in the report helps stakeholders make informed decisions.
• 🤩 Compliance training completion, regulatory inspections, and customer complaints are key areas to focus on in compliance reporting.
• 💁 Creating a concise and visually appealing dashboard-style report helps stakeholders easily understand and act upon the information.

Questions & Answers

Q: Why is compliance reporting important?

Compliance reporting is essential for communicating compliance risks, findings, and recommendations to stakeholders, enabling them to take ownership of these risks.

Q: How should you determine the audience for your compliance report?

It is important to identify the specific stakeholders you are addressing and understand their level of detail requirement. Tailor the report accordingly to effectively communicate with the intended audience.

Q: What are some examples of KPIs and KRIs that can be included in a compliance report?

Examples include compliance test status, completion of compliance training, regulatory inspections, investigations underway, data breaches, and customer complaints. Choose metrics that are relevant to your business and highlight trends over time.

Q: How should a compliance report be presented to stakeholders?

Use a dashboard-style presentation with graphics, graphs, and bullet points. Keep the report succinct, include an executive summary, and provide further detail in supporting documents if required.

Key Insights:

• Compliance reporting is crucial for informing stakeholders about compliance risks and findings.
• Tailoring the content of a compliance report to the audience is essential for effective communication.
• Using KPIs and KRIs allows for ongoing tracking and analysis of compliance-related data.
• Including an executive summary and action items in the report enhances its clarity and effectiveness.
• Providing insightful analysis of data in the report helps stakeholders make informed decisions.
• Compliance training completion, regulatory inspections, and customer complaints are key areas to focus on in compliance reporting.
• Creating a concise and visually appealing dashboard-style report helps stakeholders easily understand and act upon the information.
• The Compliance Practices Workshop offers in-depth guidance and a template for creating effective compliance reports.

Summary & Key Takeaways

• Compliance reporting is crucial for communicating compliance risks and findings to stakeholders.

• To create a great compliance report, consider the audience and tailor the content to their needs.

• Use Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs) to track and analyze data over time.