Compliance Spending Holding Steady at Most Companies, Says SCCE-HCCA Survey

[Editor's note: The following press release was excerpted from PR Newswire. You can view the entire release by clicking here.]

The Results of a Survey Conducted by the Society of Corporate Compliance and Ethics and the Health Care Compliance Association

MINNEAPOLIS, Jan. 7 /PRNewswire/ — Anyone doubting the commitment of business to compliance and ethics will be surprised by the findings of a survey which reveals spending on compliance has remained stronger than anticipated. Roughly three out of four companies either kept compliance spending even or actually increased it in 2009, and for 2010 the prognosis is even brighter.

The data was revealed in a new survey conducted by the Society of Corporate Compliance and Ethics (SCCE) and the Health Care Compliance Association (HCCA). This research was conducted among compliance professionals in the last quarter of 2009. The Survey Report also compares data gathered in the fall of 2009 with a similar survey conducted in December 2008. Use the following link to download the complete survey report: http://www.corporatecompliance.org

“Happily the overall impact has been less than anticipated and the prognosis is good,” said Roy Snell, Chief Executive Officer, SCCE. “According to our survey results 33% expect a budget increase in 2010, and 18% expect their staffing to increase,” added Snell. “This shows that the business community has come to realize that the price of cutting back on compliance far exceeds any potential rewards.”

Snell also pointed out that “While the economy may be coming back, fears of compliance and ethics failures remained relatively the same as found a year ago, with fully one-third believing that the current economy has greatly increased the risk of a failure.”

Follow the link to view the entire release about the SCCE and HCCA survey.