Tuesday 1 February 2011

Energy sector spends the most on complying with regulations

A new study of 46 multinational companies found that the total cost of compliance in the energy sector is £15.1 million, followed by the transportation sector at £11.2 million.

Measures included complying with laws and regulations, addressing internal policies and procedures and funding contractual agreements with partners, vendors and data protection authorities.

The "True Cost of Compliance" study, based on in-depth conversations with 160 business leaders across 46 multinational companies, was conducted by TripWire, global IT company, and the US-based research organisation the Ponemon Institute.