The Critical Role of Compliance Teams in Corporate Governance
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For travel and expense managers, compliance teams set travel policies, approval workflows and expense reimbursement rules. As regulatory complexity rises, companies need to embed compliance into daily operations rather than rely on after-the-fact review, directly shaping T&E system selection and process design.
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- SAP Concur BlogThe Critical Role of Compliance Teams in Corporate Governance
A SAP Concur blog post argues corporate compliance has moved from a back-office function to a business imperative. 77% of business leaders say detecting and managing risk is at an all-time high and nearly three-quarters worry they are falling behind. It outlines compliance team roles (officers, auditors, legal advisors, analysts) and responsibilities spanning regulatory compliance, policy development, risk assessment, monitoring, training and incident response, citing ACFE data that organizations lose up to 5% of annual revenue to fraud.