A Compliance Risk Management Plan is a strategic document that outlines how an organization identifies, evaluates, and addresses compliance risks. This plan includes methodologies for risk assessment, procedures for mitigating risks, and mechanisms for monitoring and reporting. It provides a structured approach to managing compliance-related challenges and ensures that all potential risks are proactively addressed. By implementing a comprehensive risk management plan, organizations can safeguard against legal and financial consequences and maintain effective regulatory adherence.
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