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Global Insight

The IDW and the Assurance Standard 980:2011

Thanks to Compliance, institutions are able to conduct their operations and activities ethically, with the highest level of integrity, whilst at the same time fulfilling all of the legal and regulatory requirements (known as external requirements) and all of the industry regulations, policies and procedures adopted by firms (known as internal requirements).

Nowadays, there is no question that putting in place an efficient and effective Compliance Management System (CMS) within institutions can diminish or even nullify the risk of penalties, lawsuits or the definitive closure of businesses.

If we focus on Compliance Management Systems (CMS), the IDW AssS 980 is the standard used by German Public Auditors. Any deviation of these standards may count against them  in respect of claims to damages and legal claims brought before criminal proceedings or their professional supervisory body. 

This article describes the IDW AssS 980 and its basic CMS elements.

  • Florence, Italy, October 17, 2018 - October 20, 2018

    The 38th ABL Conference will be held in Florence, Italy, 17-20 October 2018.

  • Tokyo, Japan, May 1, 2019 - May 4, 2019

    The 39th ABL Conference will be held in Tokyo, Japan, Spring 2019.The exact dates are not known yet.

     

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