The Compliance Risk Study 2022 highlights the challenges faced by compliance officers in navigating the current 'perfect storm' of unforeseen events. The report emphasizes the importance of cross-enterprise collaboration, leveraging data-driven insights, harnessing advanced technologies, and overcoming cost challenges. The report also notes the growing global focus on consumer privacy, data protection, and environmental laws, further emphasizing the importance of compliance in supporting operational and environmental resilience. The uncertain and rapidly shifting situation in Ukraine has made evaluating, managing, and mitigating cyber and environmental, social, and governance (ESG) risks a critical priority. The report's conclusion reconfirms the need for compliance officers to adapt to the changing regulatory and compliance landscape and to embrace new technologies to effectively manage compliance risks.
