How Organizations Commit to Compliance
How Organizations Commit to Compliance
Organizations should consider increasing the input of compliance officers on overall strategic business planning—something relatively few companies are doing.
Delegated Duty
98% of global execs said their senior leadership is committed to compliance and ethics. However, 55% indicate that senior leadership only provides ad hoc program oversight, or delegates most compliance and ethics oversight activities.
Assigned Program
67% said their organization uses a process to identify owners of specific compliance and ethics-related risks.
Assigned Roles, Part I
73% said their in-house compliance committee regularly identifies compliance-related risks, and 70% said it reviews (annually) the effectiveness of the compliance program.
Assigned Roles, Part II
69% said their in-house compliance committee regularly approves corporate compliance policies or policy revisions, and 55% said it assesses business risks and their impact on compliance.
Comprehensive Approach
77% said their company has an enterprise risk management (ERM) process. Of those which do, 88% said their ERM program covers compliance and ethics-related risks.
Extra Effort
54% of those with ERM processes conduct compliance and ethics-specific risk assessment activities beyond ERM efforts.
Diminished Role
Just 36% said their compliance officers are “inherently integrated” or “play a key role” in their organization’s strategic planning.
In Touch
82% said their senior leadership formally communicates with employees regarding compliance and ethics topics.
Top Ways Senior Leadership Communicates with Employees About Compliance/Ethics
Email: 82%, “Town hall” meetings: 59%, Business unit meetings: 46%, Video messages: 38%, All hands calls/meetings: 28%
Untapped Input
Just 21% take advantage of employee surveys to gather information for their risk assessments.
