Risk & Compliance

The topic of Risk & Compliance is ever-present in Balmer-Etienne’s advisory services. Issues of compliance and risk management need to be clarified in almost every business area of a company. Important factors here are the early recognition and examination of intrinsic business risks, the development of strategies to minimise risks and adequate safeguarding for a case of damage.

Corporate departments pursue their own set goals and objectives, the implementation of which can only be ensured using clearly defined processes. In each operation within the company, various different characteristics of these influences are related to each other and have individual requirements. Management is typically confronted with a complex distribution of various different relationship levels – nationwide and multinational business relationships open up new business areas, for which statutory and corporate rules sometimes prescribe complex legal framework conditions. Compliance, or the adherence to internal as well as external standards, requirements and guidelines for preparing and processing information, also play a key role.

Our experienced experts from the relevant specialist areas demonstrate how you can ensure, through the implementation of suitable measures, a smooth, focused and lawful procedure of all business activities, particularly in strategic, planning and decision processes. Not infrequently, this can also result in optimisation effects for your daily working method.

What is Risk & Compliance?

Risk & Compliance, put simply, can be described as active management of reputation and legal risks. Compliance is understood to be the totality of all operational measures, which aims to ensure the compliant behaviour of all members of a company.

Business activities are always associated with legal and economic risks. The close connection between the internal company processes with external supply and production processes increases the complexity within the company and thus also the susceptibility to failures. In order to keep these risks under control in the best possible manner, it is recommended to introduce Risk & Compliance Management. In the company, this risk management ensures that potential hazards such as failure and market risks, but also compliance risks, can be recognised and assessed at an early stage. Based on this assessment, plans and strategies can be developed which noticeably minimise the negative effects on the company concerned. Future, company-relevant decisions can thus also be made on a better and more targeted basis, and employees are actively supported in dealing correctly with possible risks. Coordinated risk communication – both on an internal and external level – accompanies good risk management.

Risk management typically takes place in the following phases:

• Risk identification
• Risk analysis
• Risk assessment
• Risk reduction
• Risk monitoring

Do you want to implement risk management but don’t know what you have to look out for and how you should realise it? Or do you already have risk management and want to have it checked independently? Would you like to know which special compliance requirements are valid for your company and how you can implement them according to your goals?

The experts from Balmer-Etienne will support you with practice-based, practical and competent analyses and help you to identify, assess, minimise and monitor risks in your company. You can thus provide the best protection from reputation and legal risks.

We will provide you with comprehensive advisory services in the area of Risk & Compliance. These include in particular:

• Data protection and information security
  • Consulting in all data protection and information security concerns
  • Implementation of applicable statutory regulations including the EU General Data Protection Regulation (GDPR)
  • Compilation, checking and negotiation of privacy statements, data protection regulations
  • Check and support in the development of technical and organisational measures (ToM) and other data protection issues
  • Employee data protection: Compilation, checking and adaptation of legal documentation
  • Acceptance of the mandate as external data protection consultant
  • Support in information security legal concerns
• Risk checks for companies
  • Implementation of risk checks
  • Legal evaluation of risk checks, cross-area consulting in risk and compliance,
  • Implementation of risk checks in the area of corporate tax law, income tax law, withholding tax, transfer prices and VAT
  • Support in the implementation of processes and changes for Risk & Compliance
• Contractual and legal compliance
  • Review, creation and negotiation of contracts, mentoring in negotiations as well as risk analysis for existing contracts
  • Support in the implementation of legal processes and changes
  • Support in contract compliance monitoring
• Tax compliance
  • Support in the preparation of tax compliance, including preparation of declarations, tax registrations and correspondence
  • VAT fiscal representation for foreign companies, etc.
• Accounting compliance for companies
• Annual financial statement compliance for companies
• Internal control system and management for companies
• Corporate Governance (including process management)
  • Legal and fiscal analysis of existing internal company processes
  • Support in the development and implementation of internal company processes
  • Support in the formal implementation (documentation)
  • Legal and fiscal support in the implementation of corporate governance plans

Protect yourself and your company from legal and economic risks. Our experts will show you how and will advise you competently and efficiently. Please contact us.