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What Drives a Successful Compliance Committee?

Tammy Whitehouse | May 12, 2009

As risk management intensifies and Washington considers all manner of new regulatory requirements, the wisdom behind establishing and operating a compliance committee continues to get stronger.

For many companies—typically larger organizations or those in highly regulated industries—the compliance committee is alive and well, overseeing traditional, existing compliance obligations. “The question is how well equipped those committees are to deal with the increasing volume of compliance obligations,” says Miles Everson, a partner with PricewaterhouseCoopers. “We’re entering an era where compliance is going to get ratcheted up even more.”

For plenty of businesses, however, the compliance committee still doesn’t exist. In a recent poll conducted by the Open Compliance & Ethics Group, 46 percent of nearly 700 respondents said their organization does not have a compliance committee assigned to manage or oversee compliance activities.

The responses came from...

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