The structure of corporate compliance departments has become a hot topic lately, thanks in particular to amendments to the U.S. Sentencing Guidelines that put a spotlight on compliance officer’s reporting authority and independence.
No single “right way” exists to structure a compliance department, but at Compliance Week 2010, compliance leaders from large and small companies gave their peers some suggestions about what works for them and what might be worth copying.
Although the details varied greatly among the speakers, all six panelists stressed one point: that independence and regular, direct reporting to the audit committee and the full board are critical ...