Thursday, March 4, 2021
Corporate Compliance Insights
  • Home
  • About
    • About CCI
    • Writing for CCI
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Articles
    • See All Articles
    • NEW: COVID-Related
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Leadership and Career
  • Vendor News
  • Jobs
    • Compliance & Risk
    • Information Security
  • Events
    • Webinars & Events
    • Submit an Event
  • Downloads
    • eBooks
    • Whitepapers
  • Podcasts
  • Videos
  • Subscribe
No Result
View All Result
  • Home
  • About
    • About CCI
    • Writing for CCI
    • NEW: CCI Press – Book Publishing
    • Advertise With Us
  • Articles
    • See All Articles
    • NEW: COVID-Related
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Internal Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Leadership and Career
  • Vendor News
  • Jobs
    • Compliance & Risk
    • Information Security
  • Events
    • Webinars & Events
    • Submit an Event
  • Downloads
    • eBooks
    • Whitepapers
  • Podcasts
  • Videos
  • Subscribe
No Result
View All Result
Corporate Compliance Insights
Home GRC Vendor News

Survey Reveals Areas of Opportunity for Improving an Organization’s Compliance Function

by Corporate Compliance Insights
March 12, 2020
in GRC Vendor News
stairs pointing up

Rochester, NY (March 12, 2020) – To provide useful benchmarking information to organizations as they look to develop or enhance an effective compliance program, nationally ranked Top 50 CPA firm The Bonadio Group conducted its third survey of compliance officers. The survey revealed that 57 percent of respondents feel they do not have the resources to adequately carry out the compliance function, compared to 54 percent in the firm’s 2014 and 2016 surveys. In related data points, one in five respondents indicated that their organization does not perform an annual organization-wide risk assessment, and 31 percent said their auditing and monitoring process is insufficient for an effective compliance program (though this number has improved from 42 percent in 2016).

Compliance is increasingly viewed as a valuable component, although there is still room for improvement in elevating the compliance officer role. Eighty percent of compliance officers said they are part of the senior leadership of their organization, and 76 percent said they are involved in organizational strategic planning. Additionally, 78 percent of compliance officers surveyed reported that they have been working in the compliance field for more than four years, up from 71 percent in 2016, demonstrating the maturation of the compliance field and the experience level of compliance officers. At the same time, 65 percent of compliance officers reported that their organization does not have a succession plan in place for the compliance function.

“The roles and responsibilities of compliance officers are growing each year as risk factors increase and the regulatory landscape shifts,” said Paul Mayer, MBA, MPA, CHC, Executive Vice President, The Bonadio Group. “While we’re encouraged to see most compliance officers are considered strategic partners by their organizations, there are significant opportunities for organizations to fortify their risk assessment and management strategy.”

To support these organizations in their efforts to build or improve their compliance programs, The Bonadio Group hosts a variety of compliance-focused events annually. In the coming months, the firm will host its 6th Annual Compliance Boot Camps in Albany, Rochester and New York City. These full-day workshops are intended for compliance professionals of all levels of experience. Stay tuned for further updates regarding these events.

About The Bonadio Group:

Founded in 1978, The Bonadio Group is a nationally ranked Top 50 CPA firm offering accounting, tax and consulting services to clients of all sizes. The firm’s professionals deliver practical, proactive and innovative solutions to help clients reach their financial, compliance, management and personal goals. The Bonadio Group is the largest independent provider of accounting, tax and consulting services in upstate New York — with offices in Albany, Batavia, Buffalo, East Aurora, Rochester, Syracuse, and Utica. The Bonadio Group also has offices in New York City; Rutland, VT; and Dallas. For more information, visit www.bonadio.com.


Previous Post

U.S. Tech Firms Bullish on Global Expansion in Spite of Growing Uncertainty

Next Post

4 Compliance Career Paths – And Why They Make a Difference

Corporate Compliance Insights

Related Posts

SEC emblem on building exterior

SEC Division of Examinations Announces 2021 Examination Priorities

March 3, 2021
cybernetic brain in form of human brain in cyberspace

Strike Graph Introduces First-Ever AI Tech Platform to Automate Security Questionnaires

March 1, 2021
red paper plane breaking rank from white paper planes

Diligent to Become Largest Global GRC SaaS Company Through Galvanize Acquisition

February 24, 2021
gold cup award on red background with stars

Ethisphere Announces the 2021 World’s Most Ethical Companies

February 23, 2021
Next Post
silhouette of businesspeople with center figure in red

4 Compliance Career Paths – And Why They Make a Difference

OneTrust offers download to demonstrate privacy management leadership
Access realtime data
Addressing systemic racism in the workplace SAI Global
Top 10 Risk and Compliance Trends

Special Coverage

Special COVID page graphic

Jump to a Topic:

anti-corruption anti-money laundering/AML Artificial Intelligence/A.I. automation banks board of directors board risk oversight bribery CCPA/California Consumer Privacy Act Cloud Compliance communications management Coronavirus/COVID-19 corporate culture crisis management cyber crime cyber risk data analytics data breach data governance decision-making diversity DOJ due diligence ESG fcpa enforcement actions financial crime GDPR GRC HIPAA information security KYC/know your customer machine learning monitoring ransomware regtech reputation risk risk assessment SEC social media risk supply chain technology third party risk management tone at the top training whistleblowing
No Result
View All Result

Privacy Policy

Follow Us

  • Facebook
  • Twitter
  • LinkedIn
  • RSS Feed

Category

  • CCI Press
  • Compliance
  • Compliance Podcasts
  • Cybersecurity
  • Data Privacy
  • eBooks
  • Ethics
  • FCPA
  • Featured
  • Financial Services
  • Fraud
  • Governance
  • GRC Vendor News
  • HR Compliance
  • Internal Audit
  • Leadership and Career
  • Opinion
  • Resource Library
  • Risk
  • Uncategorized
  • Videos
  • Webinars
  • Whitepapers

© 2019 Corporate Compliance Insights

No Result
View All Result
  • Home
  • About
  • Articles
  • Vendor News
  • Podcasts
  • Videos
  • Whitepapers
  • eBooks
  • Events
  • Jobs
  • Subscribe

© 2019 Corporate Compliance Insights