Lack of Awareness
Lack of Awareness results when there is no understanding of how an entity’s systems work or how its compliance department is functioning and performing.
AWARENESS
Key Concepts
Causes of Lack of Awareness:
1. Lack of Vigilance 2. Insufficient Expertise 3. Lack of Engagement with the Regulator 4. Inadequate Root Cause Analysis
Ensuring Awareness
Quality Management
Focuses on objective evaluations of the quality of an organization’s activities to ensure the integrity of the activities.
Quality Management plans should include:
Independent checks
Staff participation
Mechanisms for raising quality
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