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Three steps to fitting compliance into long-term business strategy

Tom Fox | April 12, 2018

How can an organization’s board of directors incorporate the compliance function into a long-term business strategy? It can commit to doing business ethically and in compliance with anti-corruption laws and engage actively with the CCO and compliance function.

The first point is to develop a framework for incorporating compliance into long-term strategy. Setting up the framework for evaluation of the compliance function starts with answering these three questions: 

  1. Has the company identified the compliance issues relevant to the board?
  2. Has the company assessed and incorporated those compliance issues into its long-term strategy?
  3. Has the company communicated its approach to compliance and the influence of those factors on its overall strategy?

From this initial inquiry, a compliance officer can move into some specific questions that the board can use to determine the overall state of the company’s compliance program.

To answer...

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