1、The billion-euro threat:how to effectively transform automotive compliance managementPhoto by Angel Gomez Herreros Kearney,MadridHowever,environmental compliance issues are likely to be only the first wave of what industry executives call a compliance tsunami.For example,electric vehicles and plug-i

2、n hybrids are already being scrutinized for non-representative test cycles and CO2 calculation methods.Furthermore,connectivity and autonomous driving are presenting a whole new range of compliance challenges when it comes to data,privacy,security,and safety regulations.Shaken up by incidents such a

3、s the automotive emissions fraud,regulators are expanding their efforts and developing new methods to investigate software-related product compliance.An inadequate management of compliance causes severe corporate and personal liabilities and bears considerable reputational risk.But its not just the

4、authorities that are intensifying their scrutiny.Shareholders,the broader public,and customers are also putting pressure on automotive players to ensure compliant products and services,thereby affecting a companys revenue streams.Thats why setting up an effective compliance management system is esse

5、ntial to tackle the billion-euro threat.In an era of more stringent and complex regulations,automotive players need a 360-degree perspective on compliance management.For years now,companies in nearly every industry have been investing significant amounts of money to build systems and structures for

6、managing compliance,typically with board supervision.However,one prominent example reveals that safeguards can have an inherentand costlyweakness:the automotive emissions fraud case.When authorities notified automotive companies that they were in violation of the Clean Air Act,the public learned tha