Companies respond differently to compliance challenges, particularly in the way in which they encourage and embrace whistle-blowers.
Since we’re still feeling the wrath of the economy, a lot of organizations continue to feel strapped for cash. In many organizations, this means that ethics and compliance departments are usually last to see any money, as they are often viewed as a cost centre. As legislation becomes stricter and penalties increase, it turns out that ethics and compliance departments can actually save companies a lot of money.
Organizations seeking to minimize risks should also expect – and train – managers to have a heightened degree of ethical awareness, so that (among other reasons) they can be “sentinels” in spotting C&E risks.
As the SEC works toward solidifying the whistleblower provisions in April 2011, what can organizations do to protect against whistleblowers going to the SEC before reporting to ethics & compliance?
On a most basic level, a middle-aged C&E program often lacks the vitality of its early days. What are some ways for an organization to avoid these pitfalls?
Jason Lunday explains how applying process management tools can help a company to strengthen its ability to meet high standards of conduct and demonstrate this commitment to stakeholders.
If you haven’t heard, Mark Hurd was relieved of his executive duties at HP, according to the Wall Street Journal, “in large part because of the conflict between his actions and the code of conduct, which he publicly championed in 2006 following a boardroom scandal.”
Any number of factors contributed to our economic collapse—credit default swaps, mortgage-backed securities, Ponzi schemes, subprime mortgages, and all sorts of other things that most of us had never heard of a year ago. But they all boil down to one simple concept: a loss of trust.
As many in the compliance profession are likely finding out, this difficult job becomes exponentially harder in tough economic times. Jim Nortz offers some guidance on how to weather the storm and not just survive, but thrive.