'Cost of compliance' survey for UK organisations.The Institute for the Management of Information Systems (IMIS IMIS Integrated Management Information System IMIS Institute for the Management of Information Systems IMIS Integrated Maintenance Information System IMIS Integrated Migration Information System (Cairo, Egypt) ) is commissioning a survey to gauge the effectiveness of corporate policies and the current cost of compliance in the UK. Although legislation currently only affects organisations in the UK in a limited way, corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. legislation is set to become the norm in Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). within the next few years. The IMIS survey aims to show how
organisations view the value of policies, how they are implemented and
managed, and the importance of compliance.
Comment: If applied effectively, policies to meet regulations and legislation should have positive effects on the efficiency and morale of an organisation, claims IMIS yet through lack of understanding, many boards see only the negative side of protection against litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and corporate punishment. Our survey has been designed to give a 'State of the Nation' picture of the policy management and compliance. A similar survey of CFOs in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. found that the cost of achieving initial Sarbanes-Oxley compliance was in excess of 12 employee years for organisations with a turnover greater than 500 million [pounds sterling], and 2 to 3 employee years for organisations with a turnover of less than 100 million [pounds sterling]. This survey will enable IMIS help meet the future needs of corporate members in this area. www.imis.org.uk |
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