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.
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.
67% said their organization uses a process to identify owners of specific compliance and ethics-related risks.
73% said their in-house compliance committee regularly identifies compliance-related risks, and 70% said it reviews (annually) the effectiveness of the compliance program.
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.
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.
54% of those with ERM processes conduct compliance and ethics-specific risk assessment activities beyond ERM efforts.
Just 36% said their compliance officers are “inherently integrated” or “play a key role” in their organization’s strategic planning.
82% said their senior leadership formally communicates with employees regarding compliance and ethics topics.
Email: 82%, “Town hall” meetings: 59%, Business unit meetings: 46%, Video messages: 38%, All hands calls/meetings: 28%
Just 21% take advantage of employee surveys to gather information for their risk assessments.