Compliance officers might be a bit dispirited by a new study of policy-management efforts in Corporate America, which shows that companies are making some improvements at the task but still struggling to achieve the mythical “effective” compliance program amid increasing regulation and tough budgets.
The survey, conducted by consulting firm Duff & Phelps, polled 380 compliance, risk, and audit executives in the public, private, non-profit, and government sectors. The result was a mixed picture of some progress (82 percent of respondents now document all policies formally) but also of bad habits (50 percent don’t use a standard template when doing so) ...