Introduction to Compliance Management – Establishing the Culture of Compliance
$0.00 (USD)
Learning Objectives
- Identify the foundational concepts when building a culture of compliance in your business
- Develop key formal compliance policies and procedures
- Demonstrate oversight of compliance by the board and senior management
- Ensure that noncompliance issues get efficiently tracked and acted upon
In 2019 across North America, compliance violations were assessed for millions of dollars, with multiple individual fines exceeding $100,000, and hundreds of licenses were revoked. Noncompliance with laws and regulations can expose your commercial cannabis business to litigation, monetary penalties, and other formal enforcement actions including license revocation. Compliance in the commercial cannabis industry is highly regulated and complex due to the multi jurisdiction requirements, quick changes to rule making and regulation, and growth of the industry. Establishing a culture of compliance early reduces the likelihood that your business is damaged by noncompliance and creates an effective defense to reduce the impact of noncompliance should it happen in the future.
Effective compliance management enhances your business’s ability to manage compliance responsibilities, ensures employees understand these responsibilities, establishes self-reviews and audits to ensure responsibilities are carried out, and creates an issue management process to manage corrective actions when noncompliance is identified. Learn how to integrate board and management oversight, formalize compliance policies and procedures, and establish compliance audit standards into your risk program to start this process. These elements allow you to focus your resources on the highest risk problems while you mature compliance management over time.
This is an ACCCE Webinar; the live Q&A will be January 21, 2021 from noon to 2:00 MST.
Continuing Education: 2 hours
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