It requires financial firms to designate compliance officers, develop a training programme and create an independent audit process.

ECONOMIST: Security and financial services

The regulators emphasized compliance and quality failures had occurred in the Satyam audit over a number of years.

FORBES: The Grand Illusion: PwC Settles Satyam U.S. Class Action Claims

Argenbright put a compliance program in place at Philadelphia Airport -- but not before another FAA audit showed that the company continued to violate regulations, including the hiring of individuals with prior criminal records.

CNN: Review of airport security firm shows security breaches continue

Like an audit by an accounting firm, these boards often submit a Shariah audit for the annual report of the Islamic institution they represent and issue Shariah compliance certificates.

FORBES: South Dakota's Ill-Considered Attack On Islamic Financing

Councils' compliance with the best- value rule would also be checked using a beefed-up version of the Audit Commission's annual comparisons of their costs and efficiency.

ECONOMIST: Local councils

"Every time a different brand's audit team goes into a factory, the factory has to move the fire extinguishers to be in compliance, " said Sandra Cho, corporate responsibility manager for Columbia Sportswear, which manufactures some clothing in Bangladesh.

WSJ: Standards Clash in Bangladesh Factory Reforms

Currently, no federal regulations are in place to govern cloud computing, and according to an April 2011 Information Systems Audit and Control Association survey of 1, 800 Chief Information Officers (CIOs), compliance is a top risk.

FORBES: Implementation of Cloud Computing Solutions in Federal Agencies : Part 2 - Challenges of Cloud Computing