Compliance Controls and Monitoring

Compliance Controls & Monitoring

Corporate and external counsel, compliance professionals and internal audit teams face ever-increasing expectations, regulatory scrutiny, pressure to cut costs, and the rising threat of reputational damage—all too often with severely limited resources.

Now, more than ever, organizations and their counsel must:

Prevent and Detect: Forensic Audit ≠Forensic Investigation

A specialized set of skills are required to investigate alleged misconduct; quite another level of expertise is needed to prevent and detect it in the absence of a suspicion. Forensic auditors combine the mindset, knowledge, skills and experience of financial investigators with classic audit approaches and procedures to identify and assess risks, and prevent and detect violations of processes and controls, contracts and other third-party agreements, laws and regulations. In today’s business environment, they must also be able to harness the power of big data to execute and measure the effectiveness of compliance and antifraud activities.

StoneTurn’s Compliance Controls & Monitoring experts help you to:

  • Identify and respond to significant compliance and misconduct risks
  • Assess compliance risks and the effectiveness of controls
  • Audit contract compliance
  • Maximize data—big and small
  • Gain confidence to enter high-risk markets and businesses
  • Enhance the profile of legal, ethics and compliance, and audit functions
  • Establish long-term relationships with or as key external advisers

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Remediation:  The Five “Rs” – Recover, Repair, Restore, Rescue, Rehabilitate

Remediation – or understanding how and why a problem occurred, what should be done to fix it and ensure it does not recur – is essential whenever an organization substantiates allegations of significant violations of law, contract or internal policies, processes or controls. Key actions in Remediation include: recovering losses, repairing flawed controls, restoring corporate culture, rescuing wounded relationships, rehabilitating brand and reputational damage and, of course, preventing recurrence.

StoneTurn’s Compliance Controls & Monitoring experts help organizations to:

  • Avoid criminal, civil and regulatory enforcement action
  • Mitigate fines, disgorgement penalties and administrative disciplinary measures
  • Obviate the need for government-imposed compliance monitors
  • Rehabilitate injured relationships and regain trust
  • Recoup losses
  • Protect the company’s reputation and those of members of the board and management

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Monitor: Avert, Prepare, Select, Interface & Serve as Government-Imposed Monitor

Federal, state and local, civil, criminal and regulatory enforcement actions―even now outside the U.S. ―often include appointment of a monitor, compliance monitor, independent consultant or independent review organization. StoneTurn professionals have served as monitors or in related roles since the concept was introduced in 1989. More specifically, our experience includes serving as: prosecutor supervising the monitor; chief compliance officer of a monitored company; government-imposed monitor; company-appointed monitor; forensic adviser to monitor; and company adviser. Our experience spans a range of industries, including banking and capital markets, carting and waste management, defense contractors, insurance, medical device manufacturing and distribution, mortgage servicing, oil and gas exploration, refining and distribution, and retail and wholesale.

StoneTurn’s Compliance Controls & Monitoring experts help you to:

  • Avert a government-imposed monitor through self-monitoring
  • Negotiate favorable terms
  • Select an appropriate monitor
  • Obtain appointments and serve as compliance monitors
  • Prepare for, serve as and interface with compliance monitors
  • Minimize distraction to the business
  • Extract value from the monitor

Why StoneTurn?
Learn more about the benefits of working with StoneTurn.