Digital Solutions for Continuous Monitoring: A Key to Proactive Risk Management
In Latin America, where data protection laws vary significantly from one country to another, continuous monitoring is essential to proactively spot corruption-related risks. This article explores the importance of digital solutions in this context and highlights the challenges associated with preserving and collecting evidence.
The Importance of Digital Solutions for Continuous Monitoring
In order to effectively manage corruption-related risks, organizations need to implement robust digital solutions that enable continuous monitoring. The Electronic Disclosure Reference Model (EDRM) is a framework developed since 2005 to guide organizations through information governance and the discovery process for electronically stored documentation.
The EDRM Framework: A Guide for Organizations
The EDRM framework helps organizations:
- Select e-discovery software tools
- Determine the skillsets needed to operate those tools
- Design documentation that maps the process from end-to-end for legal purposes
By using this framework, organizations can ensure that their digital solutions are effective in supporting their compliance efforts.
Challenges of Preserving and Collecting Evidence
Preserving and collecting evidence requires specialized technical knowledge and experience. It is essential to understand the complete picture of information, including data, documents, and human sources, before determining how to obtain different types of data.
Key considerations include:
- Understanding the matter being investigated: The scope and objectives of the investigation should be clearly defined.
- Nature and size of the business: The organization’s structure and operations should be taken into account when collecting evidence.
- Legal or regulatory aspects of evidence preservation: Compliance with relevant laws and regulations is crucial.
- Timelines: The collection process should be completed within a reasonable timeframe.
Defining the Scope and Objectives for E-Discovery Procedures
To ensure successful completion of electronic evidence collection, it is essential to define the scope and objectives of e-discovery procedures. This includes:
- Identifying non-technical issues that may impede successful completion
- Understanding the matter being investigated
- Determining the nature and size of the business
- Factoring in legal constraints and timelines
By following these guidelines, organizations can ensure that their digital solutions are effective in supporting their compliance efforts and helping to proactively spot corruption-related risks.