Financial Crime World

Compliance Program Metrics and Metrics Tracking Crucial for Afghan Organizations

Kabul, Afghanistan - As the regulations governing businesses in Afghanistan continue to evolve, organizations are facing increasing difficulties in staying compliant. To mitigate the risk of non-compliance, employers need to consider key compliance metrics that indicate how well their program is operating.

Understanding Top Compliance Metrics

Employers can measure the effectiveness of their compliance program by tracking several key metrics, including:

Cost Metrics

  • Percentage of employees who register for electronic delivery of tax and ACA statements, reducing print and mail costs.
  • Administrative time required for compliance tasks.

Operational Metrics

  • Number of corrected W-2s and ACA statements
  • On-time submission of I-9s
  • Support calls to HR and Payroll teams

Employee Engagement and Satisfaction

  • Workforce engagement and satisfaction in terms of compliance
  • Recognition areas for improvement

Consequences of Non-compliance

According to a report by Globalscape, organizations lose an average of $4 million in revenue due to a single non-compliance event. The cost of non-compliance has increased by 45% since 2011, highlighting the importance of ensuring compliance with required guidelines.

Challenges in Compliance

Companies face various challenges when it comes to compliance, including:

  • Pinpointing applicable laws and compliance requirements
  • Applying compliance rules correctly
  • Reporting to relevant agencies and entities

These challenges can lead to substantial fines and penalties that have wide-reaching consequences.

Streamlining Processes with a Partner

Fortunately, the compliance industry is evolving, and new technologies and tools are helping companies streamline and improve processes. With the help of a reliable partner, organizations can create a robust compliance strategy to ensure they conform to the right laws and regulations.

By tracking key compliance metrics and partnering with a dependable organization, employers in Afghanistan can:

  • Reduce complexity
  • Minimize disruption
  • Avoid errors
  • Simplify management
  • Improve key metrics