Crystal ball gazing: a big year ahead for compliance and regulations.

Filed in archive Compliance by leon on January 2, 2006

Expect the compliance treadmill is about to slow down? Think again. '06 and '07 are set to be big years for monitoring, record keeping and re-engineering of processes across businesses. Privacy and data retention will be just two of the drivers for the boom in regulations, according to new forecasts.

It means that in a shrinking jobs market, IT professionals will have to hone their skills in regulatory requirements and business know-how, says research firm Gartner.

Not that any of this will stop fraud or malfeasance. Expect at least one multi-billion dollar fiasco for 2006, warns the International Herald Tribune.

Might be a concern for anyone running a business but it's great news for lawyers, accountants and bureaucrats.

Related Entries:

Can SOX compliance work? - 05 December 2005
The compliance treadmill. - 28 December 2005
Comprehensive Compliance - 06 July 2007
SaaS for Compliance? - 30 August 2007
Compliance costs grow faster than income - 03 March 2008
Average 2007 SOX compliance bill: $1.7 Million - 02 May 2008
Investor crystal ball gazing - 15 May 2008

« SOX: pain and gain | Main | Accountants: cleaning up ... »

Permalink: Crystal ball gazing: a big year ahead for compliance and regulations.

Tags: compliance predictions data retention privacy Gartner

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Response from: mervin (01/03/06 7:17pm)

That's good. Eventhough fraud and malfeasance is not totally eliminated, I guess that it is still a good prediction for a much stricter privacy and data retention especially that digital tech today is getting smarter and smarter opening opportunity for hackers and other data theives. A much cunning defense for all these is needed.

Response from: big4guy (01/04/06 5:17pm)

My view is that fraud can never totally be eliminated. With anti-fraud programs, monitoring controls etc there is still a chance that some employee somewhere might trigger a fraudulent transactions and noone can control it. You will have to live with it!