Purposes

• A compliance training program instructs a participant on how to abide by the latest changes in regulatory guidelines or criteria. For example, a human resources employee may learn about changes in Occupational Safety and Health Administration (OSHA) rules regarding workplace security. A training course also may instruct on changes in financial accounting and reporting requirements. For instance, a risk manager at an insurance company may learn about updates in generally accepted accounting principles (GAAP) and how they affect the insurance industry.
  
  

Types

• A compliance course coordinator may provide courses on the Internet or on-site. To illustrate, the insurance company's risk manager can log into a secure website to select applicable GAAP courses and take a pass/fail test at the end of the session, or attend a local university's two-week finance program. Alternatively, he can participate in a conference that the American Institute of Certified Public Accountants (AICPA) sponsors or attend a training session that the company organizes at its headquarters.
  
  

Features

• Types of topics covered in a business compliance training curriculum may vary, depending on the company size, industry and staff skills. Regulatory standards, training budget allocation levels and top management's requirements also may affect subjects selected. For example, a training course at an investment bank may focus on internal compliance and how to apply generally accepted auditing standards (GAAS) to the bank's internal controls and procedures. Alternatively, a session may cover employee safety rules included in the Americans with Disabilities Act (ADA).
  
  

Benefits

• An effective compliance training program can benefit a participant and a sponsoring organization. A licensed professional, such as a certified internal auditor (CIA) or a certified fraud examiner (CFE), can attend training sessions to comply with minimum continuing education criteria that the Institute of Internal Auditors (IIA) or the Association of Certified Fraud Examiners (ACFE) often requires. A sponsoring company also may gain from a compliance training initiative because well-trained and skilled employees are more likely to abide by laws when performing their tasks.
  
  

Expert Insight

• Occasionally, a compliance session moderator may feel that a topic is unclear or no employee has practical experience in a subject. In such circumstances, the moderator may bring in a specialist to clear up the complexities. For instance, a human resources compliance course coordinator at a brokerage firm may hire a certified public accountant (CPA) to explain differences between financial reporting principles and statutory accounting standards.