Question

Sec Policy Legal Ethics Comp.

Discussion 10: Tracking, Monitoring, and Reporting: Explore various methods for tracking, monitoring, and reporting for organizational compliance. Understand why these systems can reduce the manual methods and thus provide added value to the compliance process.

Assignment Requirements: Discuss tracking, monitoring, and reporting of various compliance systems. Write the summary of your learning as a bulleted list that explains the relevance of tracking, monitoring, and reporting of compliance systems.

Answer 1

Tracking :

I t is a concept in a compliance system that is used to create the track records of various reports, audits, data storage features inside the organization.

This concept is often used by the Board of Directors which allows them to keep a track of the organization's activity in the form of trach points.

Monitoring :

In the compliance system, the managed reports are often produced. All such reports must follows the rules and syntax of the standard report formation.

Continuous monitoring allows the compliance system to keep track of theses reports under the specified formation.

Reporting :

Every organization works with a large number of clients and produce export and import services every month. The reporting services allow the organization to keep track of various reports, the month stats of the data exchanges, etc.

Summary for Compliance Systems :

1. Deal with the report services in an efficient manner.

2. Provides data management using DBMS techniques.

3. Proper data monitoring is done using monitoring services.

4. Tracking is a good way to deal with and manage employee's track record.