What does "monitoring" refer to in the context of compliance programs?

Monitoring in the context of compliance programs refers to the ongoing evaluation of compliance activities. This involves systematically reviewing and assessing the effectiveness of the compliance program to ensure that the organization adheres to applicable laws, regulations, and internal policies. Effective monitoring enables organizations to identify potential compliance risks, track compliance performance, and make necessary adjustments to enhance the program.

The importance of monitoring lies in its capacity to provide real-time insights into compliance operations, facilitating timely corrective actions when compliance gaps or issues are detected. It helps organizations not only to maintain compliance but also to foster a culture of accountability and ethical behavior.

The other options focus on different aspects of compliance management. Creating new regulations pertains to policy-making rather than evaluating existing compliance efforts. Setting future compliance goals involves strategic planning rather than ongoing assessment. Training employees, while crucial for fostering awareness and understanding of compliance issues, is a distinct function that does not encompass the continuous evaluation aspect that monitoring represents.