{"id":4907,"date":"2023-05-23T16:14:24","date_gmt":"2023-05-23T06:14:24","guid":{"rendered":"https:\/\/insight.thomsonreuters.com.au\/business\/?post_type=insight_resource&#038;p=4907"},"modified":"2023-07-20T16:39:19","modified_gmt":"2023-07-20T06:39:19","slug":"top-three-insights-in-the-2023-cost-of-compliance-report","status":"publish","type":"insight_resource","link":"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/top-three-insights-in-the-2023-cost-of-compliance-report","title":{"rendered":"Cost of compliance 2023 report examines the top three operational insights"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\">Thomson Reuters Regulatory Intelligence released the 14th annual Cost of Compliance report, which explores the regulatory burden posing operational challenges that compliance officers expect to face in 2023. &nbsp;<\/h4>\n\n\n\n<p>Responses to the survey portrayed a sector dealing with greater responsibility alongside practical operational challenges that threaten to undermine efforts to provide the required level of compliance support. &nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Top three insights unveiled in the report<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Workloads continue to grow, with nearly three in four (73%) of respondents expecting an increase in regulatory activity.<\/li>\n\n\n\n<li>Resourcing remains a challenge, with nearly thee in five (62%) of organisations expecting compliance teams to remain the same in the next 12 months.<\/li>\n\n\n\n<li>Strong compliance culture exists despite the challenges, with more than three in five (85%) respondents considering their compliance culture is effective. &nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>The findings are intended to help organisations with planning and resourcing, while allowing them to benchmark their own approaches against those of the wider industry. &nbsp;<\/p>\n\n\n\n<p>Want to know what was reported as the single biggest compliance risk facing organisations? Read the answer to this and other insights in the latest report.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Get your complimentary copy of the 2023 Cost of Compliance report by completing your details on this page.&nbsp;<\/p>\n<\/blockquote>\n\n\n\n<p>For more related insights, read the&nbsp;<a href=\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/10-things-compliance-officers-need-to-know-in-2023\" rel=\"noreferrer noopener\" target=\"_blank\">10 Things Compliance Officers Need to Know in 2023<\/a>, or&nbsp;<a href=\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/fintech-regtech-and-the-role-of-compliance-in-2023-addressing-deployment-management\" rel=\"noreferrer noopener\" target=\"_blank\">Fintech, Regtech, and the role of compliance in 2023&nbsp;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Download your copy of the 2023 Cost of Compliance Report to stay informed, plan effectively and benchmark your organisation&#8217;s approach.<\/p>\n","protected":false},"author":5,"featured_media":4909,"template":"","categories":[1151,697,701],"tags":[457],"resource_type":[624],"insight_job_role":[712,804,715,793],"insight_practice_area":[],"class_list":["entry","author-traus","has-excerpt","post-4907","insight_resource","type-insight_resource","status-publish","has-post-thumbnail","category-benchmarking","category-compliance","category-regulatory-intelligence","tag-regulatory-intelligence","resource_type-report","insight_job_role-chief-information-officer","insight_job_role-chief-risk-officer","insight_job_role-compliance-risk-manager","insight_job_role-compliance-officer","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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