How long does a compliance investigation take?
Compliance investigations are based on the specific legislation in question. There are some statutes that are more open-ended or vague, while others are procedural in nature. Without knowing the specifics of the legislation, it is difficult to estimate how long a compliance investigation may take. The average investigation can take anywhere from just a few days to months. This depends on the type of investigation being undertaken, the number of witnesses being interviewed, and any forensic evidence that may be needed to verify facts. If there are more people involved in the investigation, it will take longer. If the facts are more complex, it will take longer. A range of time can be anywhere from 3 weeks to 6 months.   A regulatory compliance investigation will allow a company to better understand what regulatory risks they face, and identify solutions for avoiding the adverse actions of non-compliance.    If a company makes a commitment to conducting investigations when evidence of a regulatory violation is found, they are less likely to face a government investigation or harsh disciplinary actions. Internal investigations are beneficial to a company because it can give them insight on fixing future problems and an opportunity to show they followed the company's regulations and procedures.