BERMUDA’S COMPLIANCE MONITORING AND TESTING: KPMG PROVIDES EXPERT SUPPORT
Maintaining regulatory compliance in Bermuda is a crucial aspect of doing business, and companies are increasingly seeking expert guidance from leading firms to achieve this goal. KPMG’s Compliance team offers a comprehensive suite of services designed to support companies in meeting their compliance obligations and mitigating risk.
KPMG’s Compliance Team
Our team’s expertise lies in providing practical, objective advice that is tailored to each client’s specific needs. With extensive resources at our disposal, our Compliance experts can provide ongoing support to businesses’ second line of defence/Compliance functions on either an ad-hoc or ongoing basis.
Key Services
KPMG’s compliance monitoring and testing services can assist in the following key areas:
- Establishing and enhancing a company’s compliance strategy, appetite, governance, and culture
- Developing effective policies and processes to ensure compliance
- Identifying potential risks and implementing mitigation strategies
- Advising on the development and implementation of compliance policies and processes
- Providing guidance on regulatory requirements and best practices
- Conducting workshops and training sessions for employees
- Horizon scanning for emerging regulatory risks
- Staying ahead of changing regulations and industry trends
- Identifying potential risks and developing strategies to mitigate them
- Preparing compliance reports
- Providing regular updates on compliance status and progress
- Ensuring compliance with regulatory reporting requirements
- Enhancing the effectiveness of compliance governance
- Conducting internal audits and assessments to identify areas for improvement
- Developing effective risk management and mitigation strategies
Ongoing Compliance Monitoring and Assurance
In addition, KPMG offers ongoing Compliance Monitoring and Assurance support through a defined plan of continuous or ad-hoc risk monitoring and assurance activity. This allows businesses to maintain a proactive approach to compliance, ensuring that they are always up-to-date with changing regulatory requirements and mitigating potential risks.
By partnering with KPMG’s Compliance team, businesses can ensure that their compliance functions are effective, efficient, and aligned with regulatory requirements. Our expert support enables companies to reduce the risk of non-compliance, minimize potential fines and penalties, and maintain a strong reputation in the market.