Policy and Procedure Acknowledgement
When conducting an investigation or review, a regulator such as the CFPB or a client auditor may require the organization’s Compliance Management System (CMS) to include periodic review and acknowledgement of policies and procedures by staff members.
This can be accomplished in KNOWLEDGESOURCE using “Policies”. Policies, procedures, and other documents can be scheduled to present at recurring frequencies such as quarterly, semi-annually, or annually, and even during onboarding training, where a record of presentation and acknowledgement is created.
You are not limited to specific policy or procedure types. Create categories such as:
In addition to documentation, acknowledgement promotes accountability within the organization, countering both invalid claims of not knowing or understanding requirements, and situations where those claims are actually valid. Use of Policies can be another component in creating and maintaining a culture of quality and compliance within the organization.