Changing governance and internal controls in response to recent enforcement actions cannot mask a fundamental deficiency: remediation is not changing the way decisions are being made, allowing the same mistakes to happen over and over.
Boards & Shareholders
Posted inBoards & Shareholders
Ethics as strategic value: When compliance becomes a board-level decision tool
For many Boards of Directors, compliance reporting feels familiar and reassuring. Dashboards are green. Policies are updated. Training is complete. Incidents are investigated and closed. On paper, the system works.
Posted inBoards & Shareholders
Interpretation precedes execution: Why “just do the work” fails in regulated organizations
Most organizational failures are not failures of effort, discipline, or follow-through. They are interpretation failures misdiagnosed as execution problems.
Posted inAccounting & Auditing
Communication and relationships is increasingly critical for compliance teams
Compliance is increasingly in the spotlight as companies are tackling everything from artificial intelligence and other new technologies to risk management and mitigation. But it’s soft skills of communication and relationship building that are becoming the most critical tools for success.
Posted inAnti-Bribery
CW TPRM Summit: Technology advancements are making export controls more important than ever
Russia’s invasion of Ukraine has sparked a war with unusual implications: The U.S. has stepped up sanctions and export controls. But companies are increasingly learning that the most seemingly innocuous products can find themselves in “dual use,” as a product for daily life and a product for war. A gyroscope or a more advanced GPS chip might help improve a smartphone’s capabilities, but they can also help to guide a missile.
Posted inAnti-Bribery
ESG isn’t just a buzzword, it’s vendor management, forced labor and more
ESG is no longer in vogue. But its issues still are.
Almost none of the nearly 200 attendees at Compliance Week’s Third Party Management summit this week said they’re currently working on ESG when informally surveyed. The show-of-hands results marked a dramatic reversal from even just a couple years ago, surprising even attendees in the room.
Posted inBoards & Shareholders
TPRM Keynote speaker Cherepanova says directors don’t need specialization, they need critical thinking
Regulators and investors increasingly say boards of directors need more expertise to ensure they can respond to fast-changing politics, policy, and technology that threaten to undermine their businesses. In the U.K., government officials say boards need to think more about cyber. In the EU, they need to prepare for the Corporate Sustainability Reporting Directive (CSRD). Speaking at Compliance Week’s Third-Party Risk Management summit, Boards of the Future director Vera Cherepanova says that directors need to think broadly, rather than in specialties.
Posted inBoards & Shareholders, Ethics & Culture
Compliance professionals need guaranteed job protections so they can report the truth to CEOs and boards of directors
Too often, compliance professionals do their jobs only to receive a pink slip at the end. Panelists at Compliance Week’s 20th Anniversary National Conference in Washington, D.C. this week said compliance professionals need regular access and reporting lines to CEOs and boards of directors, and to feel free to speak truth to power.
Posted inBoards & Shareholders, Ethics & Culture
CW National Notebook: Boards of directors need more compliance professionals
More than half of the people who sit on corporate boards have a background in finance, with far fewer from compliance. But change may be coming.
Panelists in a session of Compliance Week’s 20th National Conference in Washington, D.C., discussed the way boards of directors are changing in response to generational shifts, employment trends, and increasing efforts at corporate accountability. That environment is already leading more boards to work more closely with company compliance functions, including through regular reporting. And it may elevate more compliance professionals to board positions as well.
Posted inBoards & Shareholders
Should Tesla board, compliance rein in Musk? Expert says tech tycoon ‘doubly untouchable’
Tesla’s chief executive Elon Musk has admitted he’s leading his businesses “with great difficulty” while serving as President Trump’s senior adviser. The carmaker’s shareholders are openly questioning his bandwidth. Why isn’t Tesla’s board firing him? He’s “doubly untouchable,” a corporate governance expert says.