A significant piece of the compliance regime is overseeing third-party business relationships, and the best way to keep them on track is to employ the business sponsor.
Tom Fox
Thomas Fox has practiced law for over 40 years. Tom writes the daily award-winning blog, the FCPA Compliance and Ethics blog and founded the Compliance Podcast Network. Tom leads the discussion on AI in compliance through his best-selling book Upping Your Game. He has 38 other books on the use of AI in compliance and business ethics, leadership including the seminal work, The Compliance Handbook, with its 7th edition coming out in 2025. He is the founder of the award-winning Compliance Podcast Network.
LinkedIn: Follow
Posted inRisk Management
Business justification for the use of third parties
Why is business justification for third parties so important? With the Department of Justice, Securities and Exchange Commission, and Internal Revenue Service all seeking such justification, companies should definitely make it part of the compliance process.
Posted inAccounting & Auditing
What changed? FRC brings action in Autonomy scandal
The Financial Reporting Council has brought long-awaited charges against Autonomy executives for their role in the massive accounting fraud uncovered when Hewlett-Packard attempted to purchase the software firm in 2011.
Posted inEthics & Culture
Tom Fox podcast: Importance of code of conduct, policies and procedures, and internal controls
In the second of a series on the 10 hallmarks of an effective compliance program, Compliance Week columnist Tom Fox discusses the three components of written standards of a best-practices compliance program: the code of conduct, policies and procedures, and internal controls.
Posted inEthics & Culture
Tom Fox podcast: Setting the right tone at the top
In the first of a weekly series on the 10 hallmarks of an effective compliance program, Compliance Week columnist Tom Fox discusses the importance of senior leadership in setting the tone for the company.
Posted inEurope
GDPR is live … now what?
With GDPR now in effect, we should soon start to get some answers regarding its enforcement and how its private right to action will play out in the legal arena.
Posted inInternal Controls
Compliance in the middle is critical
One of the most important parts in the corporate hierarchy is the often-overlooked middle of an organization. Inside is an in-depth look at what tone in the middle should be.
Posted inInternal Controls
Improving your compliance strategy
Communicating your compliance strategy can be a critical problem when operationalizing compliance, but there are some best practices companies can follow.
Posted inRegulatory Enforcement
Avoiding and overcoming GDPR challenges
When GDPR becomes effective on May 25, compliance practitioners will have to be ready for those areas that will be most impacted by the regulatory change.
Posted inRisk Management
Novartis GC resignation points to compliance themes
The resignation of Novartis GeneraI Counsel Felix Ehrat shows companies the importance of distinguishing between the legal and compliance functions and why you should always get a business justification before working with third parties.
