When You Should Consider Hiring a Corporate Compliance Officer?

Regulations governing corporate compliance have grown at a dizzying rate. It takes an expert to keep up to date with the new rules and to ensure that organizations are following them.

Even small companies take great risks if they do not have someone at hand to watch over their business practices and perform audits on a regular basis.

The question you should ask—when do you need experts on site, rather than from the outside, to keep your organization’s policies and procedures legal?

Corporate compliance training professionals hedge a bit in their answer. It can depend on the industry and your size.

• Industry-wise, you need legal support from a specialist who is intimately familiar with the kinds of regulations affecting that industry. 
• Size-wise, if your company is publicly traded and your legal department is already strained by compliance issues, you should hire an inside officer; even when your organization is smaller or not publicly traded, if you or your clients face complex state and federal laws, you need a compliance officer on board.