How to Develop Internal Controls

I’ve been working with the design and implementation of internal compliance controls for ten years. I can’t believe that much time has passed!

These thoughts were triggered from a comment dropped by my colleague and author-cohort friend Mr. Karl Perman. We were shooting the breeze, skipping across topics from work to play, just enjoying the chance to catch up on things. Somewhere in the middle though Karl slide a curve in, mentioning how he felt a growing need in the market from people needing a real playbook to help them build successful internal compliance controls.

I agreed of course, though with no intent to action. Writing a book is fun but it’s also a lot of work. It takes a compelling reason for me to desire to write a specific business book and market need, or at least my perception of it, is a key component.

That was several months ago and the subject keeps popping up in different places with different without connection to a central conversation. I know what that means, people are asking questions and sharing ideas because it’s gaining importance to their goals and objectives in their work, and there are more gaps than they are comfortable with.

No promises, but I’m starting to really warm up to the subject and I know Karl’s got my back if this thing hits critical mass. What’s exciting for me is the wide array of simple concepts Karl and I already have to demonstrate concepts like Strategy, People, Process and Systems in respect to designing internal compliance controls.

For example, the simple relationship of Regulatory Rules (documentation) mapping to Policies which are reflected in Processes and Systems used by People to implement compliance rules tells a pretty solid internal control strategy!

Well Karl and I have been playing whack-a-mole with things for a long time, and we’ve figured out quite a few things that work really well and we’ve managed to identify a lot of the sinkholes that can swallow the best of us alive.

What do you think? Is something like this needed?