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How a bad economy might impact compliance

Amii Barnard-Bahn | January 4, 2019

In the “Ask Amii” monthly mailbag, executive coach and former Chief Compliance Officer Amii Barnard-Bahn responds to your anonymous questions on some of the grayer areas compliance officers face, such as culture, hiring, training, and ethics. Click here to submit your own for inclusion in our next edition.

Q. In your opinion, is the compliance function recession-proof? I admit I am a little worried with the current state of the economy. – Anonymous 

Amii: Unfortunately, the compliance function is not recession-proof. In any circumstance when finances get tight, there is pressure for short-term savings, so non-revenue-generating company functions (e.g., compliance, HR, and audit) often find their budgets at risk. Cutting back on compliance may put the company reputation at even greater risk, because employees might be more likely to cut corners to “make the...

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