Risk Register

In the context of compliance, a risk register serves as a tool to systematically identify, assess, and manage risks associated with regulatory and legal requirements. It helps organizations in the compliance field to track and address potential issues that could arise from failing to adhere to specific laws, regulations, or industry standards.

A risk register typically includes details about various compliance risks, such as changes in regulations, non-compliance penalties, or legal challenges. It assesses the potential impact and likelihood of each risk and outlines mitigation strategies to ensure that the organization remains in compliance with applicable laws and standards.

By maintaining a comprehensive risk register, organizations can proactively address and manage compliance-related challenges, reducing the likelihood of legal issues and ensuring more robust adherence to regulatory requirements.