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e-Book: Harnessing the Power of Online Compliance Training
When conduct issues arise in your organization, how prepared are you to respond promptly with relevant, targeted communications? Is your compliance training program keeping pace with regulatory change? In this e-Book, produced by Compliance Week in cooperation with NAVEX Global, you’ll find five articles addressing the latest trends and developments in online compliance training. Click here to watch.
With operations and vital third parties scattered across many countries, addressing compliance internationally is vital for large, global companies. But how can compliance leaders best extend their reach beyond the comfortable confines of headquarters and out into far-flung locales? At the recent Compliance Week Europe conference in Brussels last week, leaders in the field looked at how culture and training factor into building a unified global compliance program.
When he worked as a lawyer at U.K.-based retailer Tesco, compliance training was all about “ticking the box and getting it done,” David Ward told a Compliance Week Europe session on e-learning earlier this month in Brussels, Belgium. But his attitude changed when he became the retailer’s ethics and compliance director. “We wanted to be able to say, ‘Have you taken the leap?’ rather than, ‘Have you done your compliance training?’” Ward says.
With even small companies amassing troves of personal data, privacy controls are gaining in importance. But what role should compliance officers have in developing and monitoring them? Should companies have a separate chief privacy officer? How should compliance keep on top of how business units use customer data? A panel of privacy experts addressed these questions, and others, during a session at the Compliance Week Europe conference. More inside.
The Compliance Week Europe conference took place last week, with more than 150 people from 22 countries attending. Editor Matt Kelly has some of his quick observations inside, from the importance of privacy to enthusiasm for ethics & compliance in Europe to the future of the profession—which, even if we stumbled on good insights in Europe, apply to compliance programs in the United States and everywhere else.
Regulators are taking a fresh look at whether the quality of public company audits is threatened when audit firms also focus on selling consulting services. Revenue from audit services has remained flat, while revenue from consulting services is rising again. “They’re driven by the fact that management is paying not only for the audit but for these various consulting arrangements,” says Lynn Turner, former chief accountant for the Securities and Exchange Commission. More inside.
As companies begin planning for employment tax compliance in the coming year, they are finding 2015 to be a mixed bag. The good news is that payroll and other tax law changes are minimal; the bad news is that some companies may see hikes in their tax rates. “Thankfully, this year is a relatively quiet one in terms of tax law changes,” says Adam Lambert, managing director and national leader for Grant Thornton’s employment tax services practice.
Corporate directors would like to devote more time to IT strategy and cyber-security risk management, but many say they still are not receiving an adequate level of information from management in these areas to provide effective oversight. Directors also admit, in two new surveys, that they don’t have enough confidence in their IT expertise to oversee cyber-security risks.
They have been there all along, hiding in plain sight: the Foreign Corrupt Practices Act requirements for internal controls. In its latest FCPA guidance, the SEC and Justice Department emphasized the importance of internal controls in effective compliance, which they backed up with two recent enforcement actions. Inside, columnist Tom Fox offers some ideas on how to ensure good internal controls are in place for anti-bribery and anti-corruption compliance.