How Organizations Commit to Compliance

How Organizations Commit to Compliance

How Organizations Commit to ComplianceHow 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 DutyDelegated 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 ProgramAssigned Program

67% said their organization uses a process to identify owners of specific compliance and ethics-related risks.

Assigned Roles, Part IAssigned 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 IIAssigned 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 ApproachComprehensive 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 EffortExtra Effort

54% of those with ERM processes conduct compliance and ethics-specific risk assessment activities beyond ERM efforts.

Diminished RoleDiminished Role

Just 36% said their compliance officers are “inherently integrated” or “play a key role” in their organization’s strategic planning.

In TouchIn Touch

82% said their senior leadership formally communicates with employees regarding compliance and ethics topics.

Top Ways Senior Leadership Communicates with Employees About Compliance/EthicsTop 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 InputUntapped Input

Just 21% take advantage of employee surveys to gather information for their risk assessments.

Dennis McCafferty
Dennis McCafferty
Dennis McCafferty is a contributor to CIO Insight. He covers topics such as IT leadership, IT strategy, collaboration, and IT for businesses.

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