A compliance register is required to identify, assess, record and report breaches of compliance obligations.
These compliance registers should be reviewed every 6 to 12 months to accurately reflect company and regulatory policy. All employees are required to report any action on a compliance register if the action falls within the registry policy scope.
For example, every employee is required to declare an offer of a gift or hospitality, regardless of value, whether they accept the offering or not.
By ensuring staff document each event, compliance managers can produce a full audit trail of employee compliance and evidence of staff behaviour in line with company policy.