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Incorporating compliance into long-term strategy

Tom Fox | March 22, 2018

How can a board work to incorporate the compliance function into a long-term business strategy of the organization? A board can do so by engaging with the CCO and compliance function by being committed to doing business ethically and in compliance with anti-corruption laws such as the FCPA and engaging actively with the CCO and compliance function.

The first point is to develop a framework for incorporating compliance into the long-term strategy. Setting up the framework for evaluation of the compliance function is a three-step process that you can use to determine how comprehensive your compliance program is as a starting point.

Step 1: Has the company identified the compliance issues relevant to the board?

Step 2: Has the company assessed and incorporated those compliance issues into its long-term strategy?

Step 3: Has the company communicated its approach to compliance and the influence of those...

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