Risk management systems now routinely include information about whether the organisation is performing its duties and complying with the law.
All systems rely on the identification of issues to be reported on.
The reporting officer then has to assess information relating to those issues.
Certain items such as a breach of negative covenants in banking or other agreements are not as well publicised as legislative requirements.
If you have a contracts register (eg key financial and outsourcing agreements) have you listed the warranties and covenants you have made in those contracts? For example if those contracts require certain warranties and obligations to be complied with and be true on an ongoing basis (not just when the contract was made) how do you do that?
Financial covenants (eg liquidity, capital, borrowing levels) may be relatively simple to monitor.
Some contracts require one party to notify the other of "material adverse changes". Most agreements require you to keep information confidential.
The only way to do this is to include those covenants in your reporting system and to charge a person with the monitoring of information relevant to those agreements.
If your system is properly designed and maintained you will be assured that you are meeting your obligations under those contracts.