qordata Introduces Compliance Risk Assessment Services
Discovering and mitigating compliance risks effectively is crucial for organizational success. Our risk assessment services help you to identify, evaluate, prioritize, and mitigate compliance risks across your organization. Backed by a seasoned team deeply versed in compliance and regulatory landscapes, we ensure a comprehensive evaluation tailored to your specific needs.
Compliance risk assessment involves evaluating risks pertinent to your organization’s compliance obligations, integrating guidance from authorities like the Office of Inspector General (OIG) and the Department of Justice (DOJ), regulatory requirements such as Anti-Kickback Statute (AKS), Stark Law and Foreign Corrupt Practices Act (FCPA), internal policies, ethical standards, contracts, and industry best practices.
Our process begins with defining assessment objectives. We then analyze events, risk areas, and determine likelihood, impact, inherent risk, process controls, and residual risk, resulting in a risk heatmap.
For companies who don't require external help to conduct a full-blown risk assessment exercise, they can get a risk assessment template in spreadsheet format. Compliance teams can use this template to perform risk assessment on their own.
qordata's Compliance Risk Assessment Tool helps you consolidate, evaluate, and prioritize compliance risks. It is a customizable spreadsheet that includes templates for risk evaluation, prioritization and comes with a step-by-step instruction guide.
“As we continue to build our data-driven compliance platform, the addition of Compliance Risk Assessment Service brings us closer to our vision to introduce end-to-end offerings to the compliance teams.”, expressed Salman Kasbati, COO of qordata. ”The Risk Assessment Tool is for self-service compliance teams. I am grateful to our team for introducing this service, as they continue to deliver value to our clients.”
With the introduction of this offering, qordata aims to provide a holistic platform for the life sciences compliance industry, ensuring that organizations can navigate regulatory landscapes with confidence and precision.
Raza Shahid
qordata Inc.
+1 609-375-0010
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