By Emily Sandison
In the past year, we have seen a salvo of standards and regulations across the globe offering guidance on how to develop effective ethics and compliance programmes. Along with providing guideposts for programme leaders, the volume of standards, and rate at which they are released, has created a moving target for compliance programme directors.
At the end of 2016, we saw the launch of the ISO 37001 guidelines for effective anti-bribery and corruption programmes. The sentiment is also reflected in France’s long awaited legislation, Sapin II, which set out new requirements for implementing anti-bribery & corruption controls and greater provisions for whistleblower protection. Sapin II also created measures for companies over 500 employees to prevent and detect corruption. These measures include developing a code of conduct, actively conducting employee compliance training and undertaking a risk mapping exercise regularly, among other things.
In 2017 the U.S. Department of Justice (DOJ) released the Evaluation of Corporate Compliance Programmes comprised of “common questions [the DOJ] may ask in making individualised determination” to effectively evaluate a company’s unique risk profile and the solutions it uses to reduce these risks.
So with no single standard or regulation that suits all situations or organisations, we are faced with Compliance’s age-old question – how do we define “effectiveness?” The answer to this question must take into account the guidelines and standards mentioned above as well as provide adequate protection in a court of law from a host of other regulations such as the Foreign Corrupt Practices Act, UK Bribery Act and the Federal Sentencing Guidelines, among others. But, we must also consider the audience for whom we are defining “effective.” An effective programme may look different to regulators, your board, senior leaders and even your employees. Defining, evaluation and proving our programme’s effectiveness is key to not only protecting your organisation from risk, but also validating the need for additional resources or expanded budget.
Read more HERE…
