As an integral part of an enterprise-wide risk management, an enterprise-wide compliance program looks at and across business lines and activities of the organization as a whole to consider how activities in one area of the firm may affect the legal and reputational risks of other business lines and the enterprise as a whole.
It considers how compliance with laws, regulations, and internal policies, procedures, and controls should be enhanced or changed in response. This approach is in marked contrast to the silo approach to compliance, which considers the legal and reputational risks of activities or business lines in isolation without considering how those risks interrelate and affect other business lines.