What measures can a company take to mitigate the risks associated with regulatory non-compliance?

To mitigate the risks associated with regulatory non-compliance, a company can implement robust internal controls to monitor and enforce compliance with regulatory requirements. Conducting regular training programs for employees ensures awareness of compliance obligations and promotes a culture of compliance within the organization. Establishing whistleblower hotlines encourages employees to report potential compliance violations anonymously, enabling prompt investigation and resolution. Outsourcing compliance functions to specialized firms can provide expertise and resources to ensure comprehensive compliance efforts.