As we kick off the new year, it is important to ensure your annual work plan has been approved by your compliance committee and other necessary stakeholders and has been socialized organizationally for buy-in. More importantly, your work plan should have been implemented based on your identification of risk during your annual risk assessment.
What is an annual work plan?
Work plans are the foundation of a compliance program, as they provide a roadmap of what the program will focus on in the upcoming year. Work plans should be designed around your specific program, and projects should be created to address gaps and weaknesses identified during the risk-assessment process.