Ethics and compliance officers possess a unique perspective regarding the potential risks that an organization faces. This enables them to act as a type of sensor to help the board of directors, CEO and top management identify and understand what is occurring at the heart of the company, as well as a monitor to ensure […]
Over the past two decades, reporting hotlines have become indispensable corporate governance tools implemented by organizations of all types and sizes. By enabling employees to report misconduct and inappropriate behavior anonymously and confidentially, hotlines are instrumental in detecting fraud, negligence, abuse and other potentially harmful activities. Further, a well-crafted whistleblower program comprised of a hotline […]
Concerns about cybersecurity are at the top of the list for organizations of all types and sizes these days. All it takes is one significant data breach to cripple – and possibly ruin a company. Besides the severe financial and legal consequences (fines for noncompliance, violating the new GDPR regulations, lost business, paying reparations to […]
As more organizations place a greater emphasis on ethics and compliance, the role of the chief ethics and compliance officer (CECO) continues to evolve. In most instances, the CECO is now a key member of the senior management team and is heavily involved in the decision-making processes that determine the organization’s short- and long-term direction. […]
Imagine this scenario: You and a colleague – let’s call him “Ed” – have worked together in the accounting department of a mid-sized corporation for several years and earn roughly the same salary. You’ve noticed that Ed has made several major purchases over the past year or so – a brand-new luxury automobile, an expensive […]
As companies continue to focus on global expansion to take advantage of growth opportunities in emerging markets around the world, they may also become more susceptible to bribery. Many U.S.-based companies quickly discover that taking or offering bribes is an accepted and even expected business practice in many foreign nations. However, the implementation of stricter […]
Most organizations recognize the importance of ethics and compliance and the impact it has on business results, brand reputation and employee morale. But an effective ethics and compliance program requires much more than simply drawing up a code of conduct and a set of rules and regulations and hoping for the best. Sufficient training is […]
Establishing an ethics and compliance program is an important – and necessary – step for any organization that wants to maintain a strong ethical cultural. However, workplace retaliation claims can undermine your program’s integrity and even make your organization the target of a lawsuit. They can also cause significant damage to your organization’s reputation and […]
While ethical breaches that occur in Fortune 500 companies tend to get the most publicity, they also happen with great frequency in small to medium-sized enterprises (SMEs). According to the National Defense Industrial Association, the overwhelming majority of organizations that are suspended or debarred from engaging in government contract work due to ethical misconduct are […]