Compliance Risk Assessment – Results of a Comprehensive Literature Review

Abstract

Today's terminology and definitions of compliance risk are various, and the description of compliance risk assessment is heterogeneous in the literature. These differences result in different expectations, processes, and methodologies in practice, which do not support the widespread adoption of standardized compliance management systems. This study is based on a comprehensive literature review. It aims to redefine compliance risk and propose a structured model for the compliance risk assessment process. The study provides a new framework for compliance risk assessment based on findings and gaps in scientific papers, business reports, and relevant standards. It also introduces the Digital Operational Resilience Act and its compliance aspects.