What is the optimal frequency for updating a compliance program according to best practices?

The ideal approach for updating a compliance program is to consider it as a continually evolving process rather than a task confined to periodic updates. This perspective supports the concept that compliance programs must adapt in real-time to changing regulations, evolving organizational needs, and emerging risks.

A compliance program that is continually updated allows an organization to respond promptly to new legal requirements, industry standards, and internal findings, thereby maintaining an agile compliance structure. By adopting this dynamic mindset, organizations can ensure that their compliance efforts remain relevant and effective, rather than relying solely on infrequent evaluations, which could leave them vulnerable to risks during the intervals between updates.

This continual enhancement process encourages ongoing training, communication, and engagement with all staff members, fostering a culture of compliance that helps integrate compliance into daily operations.