The regulatory environment is expanding by the day; more complexity and increased focus on accountability have forced enterprises to engage in a broad range of governance and compliance projects. 

However, these initiatives are normally informal and uncoordinated. As a result, these initiatives are done in silos, which increases the overall risk for the organization. In addition, parallel compliance and risk initiatives lead to duplication of efforts and cause costs to spiral out of control. 

But with formality, visibility, control, definition, enforcement and monitoring; the above efforts have the ability to be productive, profitable and precise. We have developed inside Dynamics Ax a Compliance framework to ensure success.

The span of a Governance and Compliance framework includes elements  of:

• Governance is the oversight role and the process by which companies manage and mitigate business risks 
• Risk management enables an organization to evaluate all relevant business and regulatory risks and controls and monitor mitigation actions in a structured manner 
• Compliance ensures that an organization has the processes and internal controls to meet the requirements imposed by governmental bodies, regulators, industry mandates or internal policies.