In the second of a series on the 10 hallmarks of an effective compliance program, Compliance Week columnist Tom Fox discusses the three components of written standards of a best-practices compliance program: the code of conduct, policies and procedures, and internal controls.
In this 12-minute podcast, Fox says any effective code of conduct has be clear, concise, and accessible to all employees and to those conducting business on the company’s behalf. He calls a company’s policies and procedures a “first line of defense when the government comes knocking,” so they’re incredibly important. He also cites examples in explaining why internal controls are just as critical to a compliance program.
This 11-part podcast series goes hand-in-hand with Fox’s new book, “The Compliance Handbook,” which you can purchase now via Amazon. The book—which dedicates a section to each of the 10 hallmarks—brings together the top ideas, topics, and techniques to create an effective compliance program.
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