What is the term of a Compliance Investigation Agreement (CIA)?

A Compliance Investigation Agreement (CIA) typically lasts for a period of five years. The purpose of a CIA is to ensure that an organization adheres to compliance standards set forth by regulatory bodies, especially following a violation or breach of regulations. The five-year term allows for a substantial period in which the organization can demonstrate its commitment to compliance and make necessary improvements to its processes and practices.

This timeframe is also significant because it allows for ongoing monitoring and assessment of compliance measures implemented by the organization. During this period, the organization is expected to develop and implement a compliance program, report on its effectiveness, and submit to external audits, ensuring that any issues can be identified and addressed in a timely manner. Furthermore, the length of five years aligns with the goal of sustained accountability and improvement in compliance areas, reinforcing a culture of compliance within the organization.