Benchmarking compliance efforts among companies has been one of the more prized, if elusive, ideas in corporate governance circles in the last several years. Now one professional association has shed some light on the subject.
The nonprofit Open Compliance & Ethics Group has released key findings of its 2005 Benchmarking Study, based on responses from 79 companies, including more than a dozen of the Fortune 50. Among the highlights: most companies’ compliance programs are new, most compliance programs aren’t cheap, and smaller companies outpace larger rivals at putting compliance efforts under executive rather than board control.
