article thumbnail

Contract Compliance Audit: Overview, Benefits & How AI is Helping

SirionLabs

Statutory compliance parameters: Safety and health regulations, labor codes, data security standards, local and international guidelines, licensing, etc. Whatever the objective may be, the contract audit process is essential to averting non-compliance— the ramifications of which go far beyond fines and penalties.

article thumbnail

Third Party Risk and the Contractual Life Cycle

SIG Speaks

This can happen because of new software and systems that were implemented or require new regulations. The lifecycle of a Third-Party contract is a process that all companies should adhere to.