Why Small Firms Need Compliance Program Assessments
With the rise in new regulations, small firms generally experience some of the greatest challenges evolving their business to meet these new demands. Critical focus areas constantly expand related to cybersecurity, senior investor protection, supervisory controls, succession planning, and human capital. With this in mind, small firms need to ensure that they have a solid foundation in place for their compliance program. But why is it important for small firms especially to perform occasional assessments of their compliance efforts?