Regulatory compliance continues to be a critical issue for corporations and their meetings operations is one operational area where the potential risks and penalties can be significant. In particular, government regulators around the world have focused on individual accountability and corporate officers’ conduct. Non-compliance can result in significant consequences for both corporations and individuals. The risk of substantial monetary penalties, incalculable reputational harm and potential civil and, in some cases, even criminal liability has become commonplace. Within the meetings and events space, the highest risk of non-compliance is typically related to:
1. Meeting payments, expenses, and records,
2. Handling of Personal Information (PI), and
3. Attendee selection.
To mitigate such risks, organizations must establish appropriate internal controls throughout their area of operations.