Cost of Compliance 2022: Competing priorities
Thomson Reuters Research Institute (TRRI) has carried out its thirteenth annual survey on the cost of compliance, focusing on the challenges that financial services firms around the world expect to face in the year ahead with compliance functions.
The report has become the trusted and acknowledged voice of risk and compliance practitioners around the world. TRRI’s unparalleled interaction with the global financial services industry — coupled with the frank and wide-ranging issues and concerns shared by practitioners — continues to inform a unique insight into the practical reality and challenges faced.
This year’s survey shows the difficulties that compliance officers are experiencing as they try to plan for the future. Competing priorities are compounded by tightening budgets, potential shortages of skilled professionals, compliance’s widening remit, and increases in personal liability.