Legal and Regulatory Compliance
Organize legal and regulatory requirements through a structured compliance environment for obligations, ownership, assessments, evidence, issues, corrective actions, and ongoing reviews. LaserGRC helps compliance, legal, risk, and business teams maintain visibility into applicable requirements and coordinate activities needed to address them.
What this solves for legal and compliance teams
Dispersed Regulatory Requirements
Bring applicable laws, regulations, contractual commitments, internal policies, and related compliance requirements into an organized framework for easier management.
Difficulty Assigning Compliance Responsibilities
Connect individual obligations and compliance activities with responsible teams or owners so accountability is clearer across the organization.
Manual Evidence Collection
Create a more structured process for requesting, collecting, organizing, and reviewing documentation used to demonstrate compliance.
Unresolved Compliance Gaps
Document identified issues, exceptions, and deficiencies while coordinating corrective actions and monitoring progress toward resolution.
Regulatory Obligations
Maintain records of legal, regulatory, contractual, and internal compliance requirements relevant to the organization.
Compliance Assessments
Coordinate reviews of requirements and document assessment outcomes, supporting information, and areas requiring attention.
Compliance Evidence
Organize policies, records, attestations, documents, and other evidence associated with specific compliance requirements.
Compliance Issues & Exceptions
Record gaps, exceptions, deficiencies, observations, and other matters identified during compliance activities.
Corrective Action Plans
Assign remediation tasks, establish deadlines, monitor progress, and maintain records of actions taken to address compliance concerns.
Compliance Reporting
Provide structured compliance information for management reviews, internal oversight, audits, and regulatory reporting activities.
How legal and regulatory compliance activities can be managed
Identify the Compliance Landscape
Review applicable regulations, legal requirements, contractual obligations, internal policies, business activities, and existing compliance processes.
Build the Requirement Framework
Organize obligations by regulatory area, business function, jurisdiction, process, or other categories relevant to the organization.
Structure Existing Compliance Records
Consolidate available requirement records, evidence, assessments, policies, and historical compliance information.
Configure Compliance Workflows
Establish processes for requirement reviews, evidence collection, assessments, issue management, approvals, and remediation.
Validate Requirement Coverage
Test representative obligations and compliance scenarios to confirm that workflows, ownership, documentation, and reporting align with operational needs.
Refine Ongoing Compliance Management
Adjust review schedules, responsibilities, reporting practices, and compliance processes as requirements and organizational activities evolve.
FAQs
(Frequently Asked Questions)
What is legal and regulatory compliance?
Legal and regulatory compliance refers to an organization's efforts to understand, meet, document, and monitor the laws, regulations, contractual requirements, and other applicable obligations governing its activities.
What can compliance software help organizations manage?
Compliance software can help organizations organize obligations, assign responsibilities, conduct assessments, collect evidence, document issues, manage corrective actions, and prepare compliance reports.
Can LaserGRC help track regulatory obligations?
Yes. LaserGRC can provide a structured environment for recording obligations, associating them with responsible stakeholders, documenting supporting information, and monitoring related compliance activities.
How can organizations manage compliance gaps?
Teams can document identified gaps or exceptions, assign corrective actions, establish target dates, and monitor progress until the appropriate follow-up activities are completed.
How does LaserGRC support ongoing regulatory compliance?
LaserGRC helps teams maintain organized requirement records, conduct recurring reviews, manage evidence and findings, coordinate remediation, and maintain visibility into ongoing compliance activities.
Create a more organized approach to managing obligations, compliance assessments, evidence, findings, and corrective actions. LaserGRC helps legal, compliance, risk, and business teams coordinate regulatory activities while maintaining visibility into outstanding requirements and issues.
