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Presentation: Overcoming Language Barriers in Compliance & Risk Management Activities, Jen Farnham
Regulatory bodies can request specific information; identifying these requirements can be time-consuming, costly and complex. Organizations need to plan for potential audits to reduce overall risk and exposure. Additionally, with organizations worldwide working remotely, there is a significant increase in potential data leakage, especially when specific information needs to be shared with a dispersed group of people.
In highly regulated industries, unsatisfactory translations can cause potential fines and investigations. Internal requirements such as #patent filings, #ediscovery and financial reporting demand greater attention to language detail as well.