Are you passionate about social issues and aware of the importance of transparency in global supply chains? Are you familiar with international standards regulating manufacturing ethics, worker safety, environmental compliance, and more? Would you like to help us drive real improvement in vulnerable manufacturing locations through effective ethical audit programs?

A social compliance audit, also known as an ethical audit, is an inspection of an external production house, factory, farm, or packaging facility to verify whether the operation complies with social and ethical responsibilities, health and safety regulations, and labor laws.

A social compliance audit, also called a social audit or an ethical audit, is a way to gain clarity into a business to verify that it is complying with socially responsible principles. Audits are usually conducted by an independent auditor. Auditors usually conduct these audits on external facilities, such as production houses, factories, and farms or packing houses.

As a compliance officer, you'll ensure a company complies with its outside regulatory requirements and internal policies. In short, you're responsible for making sure that your employer plays by the rules.

After the global economic downturn, organisations (and particularly financial service ones) have been significantly increasing the size of their risk and compliance departments to respond to new regulations. Billions of pounds in fines were imposed on many of the top tier banks, compelling many to grow their teams as they rushed to ensure they were compliant.

Regulated industries include:

• Financial services

• Insurance

• Banking

• Technology

• Environmental

• Healthcare/pharmaceutical

• Property

• Charity/not-for-profit

• Gaming

• Retail.

Specialist areas in compliance, include:

• Assurance

• Financial crime

• Monitoring

• Product advisory

• Regulatory affairs

• Trade surveillance.

An undergraduate degree is usually required for entry to this role, but there is no specification as to what subject this should be, since many employers are flexible about the degree subject.

However, studying any of the following may be favourable:

• economics

• business studies

• law

• accountancy.

The increasing importance of compliance and the growing involvement of the Financial Conduct Authority (FCA), mean that qualifications are becoming more important.

A range of courses is available but those provided by the International Compliance Association (ICA) are respected by employers.

Law degrees are popular with employers, as are accountancy degrees. Remember that compliance is a large profession and different functions within compliance will look for different backgrounds.

Taken from prospects 2023. 

For companies click here : https://www.theapsca.org/apsca-member-firms/