How do I know whether compliance actions have actually been completed?
You know compliance actions have been completed when there is clear evidence that the required work was performed, reviewed where appropriate, and formally closed. A completed task should include supporting records, an accountable owner and an audit trail, not simply a tick in a spreadsheet.
The detail
Most compliance actions begin with good intentions. An audit identifies a control weakness, an incident requires remediation, or a compliance review recommends improvements. The challenge is ensuring those actions are actually completed and remain effective.
Many organisations record actions in spreadsheets or meeting minutes. While this captures what needs to be done, it often provides little assurance that the work was completed properly. A status marked "complete" tells you very little unless it is supported by evidence.
For example, if an internal review recommends updating a conflicts of interest policy, you should be able to demonstrate:
- Who was responsible for completing the action.
- What work was undertaken.
- When the action was completed.
- What evidence supports completion.
- Whether the action was reviewed or approved.
- Whether any follow-up monitoring is required.
Without this information, management may believe an issue has been addressed when the underlying risk still exists.
This becomes particularly important during ASIC surveillance, internal audits or board reporting. Regulators and auditors are interested not only in whether issues were identified, but also in how they were managed and resolved.
Good compliance practice treats actions as part of a controlled workflow. Every action should progress through defined stages, from identification and assignment through to completion, verification and closure. This creates confidence that compliance issues are genuinely being addressed rather than simply recorded.
A better way to manage this
Instead of maintaining separate action registers and manually following up with staff, manage compliance actions through a central workflow with defined ownership and evidence requirements.
Where configured, [complyᵉ] can help assign actions to responsible individuals, monitor due dates, capture supporting evidence, record approvals and maintain an audit trail from creation through to closure. This gives compliance teams, Responsible Managers and directors greater confidence that actions have been completed consistently and that there is evidence available if requested.
Rather than relying on verbal updates or email confirmations, management can see which actions remain outstanding, which have been verified and where further follow-up is required.
Practical guidance
- Assign every compliance action to a named owner with a realistic completion date.
- Define what evidence is required before an action can be considered complete.
- Verify significant actions through an independent review or management approval where appropriate.
- Monitor overdue actions through regular compliance reporting and escalate delays promptly.
- Retain supporting documents and decisions so you can demonstrate how the issue was resolved.
Common mistakes
- Closing actions without supporting evidence. A completed status alone does not demonstrate that the underlying issue has been addressed.
- Leaving actions open indefinitely. Overdue actions may indicate that compliance risks are not being managed effectively.
- Recording actions in multiple locations. Separate spreadsheets, emails and meeting minutes make it difficult to determine the true status of an action.
- Failing to confirm effectiveness. Completing an action is only part of the process. You should also consider whether the change has resolved the original issue.
See how [complyᵉ] helps you assign, track, verify and evidence compliance actions from identification through to completion and ongoing oversight.
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