Book review: Why revamping procurement benefits business—and compliance
In “Profit from the Source,” four Boston Consulting Group thought leaders argue why procurement should be shaping corporate strategy, not just supporting it. Author Daniel Weise tells Compliance Week why such a transformation would elevate compliance, too.
Ethical culture strengthened by 2022 challenges, survey finds
LRN’s annual ethics and compliance benchmarking report found most respondents—85 percent—said their company’s ethical culture has been strengthened, not weakened, in facing the Covid-19 pandemic, Russia’s war in Ukraine, supply chain disruptions, and more.
CPE Webcast: TPRM - ESG compliance and German Supply Chain Act
Increasing compliance requirements, including from the German Supply Chain Act, pending Securities and Exchange Commission guidelines, and European Union directives, require a programmatic approach to managing third-party and supply chain risk.
Good faith not good enough in navigating global supply chain laws
Differences in the level of duty of vigilance among supply chain legislation in countries including the United States, United Kingdom, and Germany mean best efforts to root out and stop slave labor and other worker exploitation are not enough, according to experts.
Webcast: Prioritizing supply chain risk management in 2023: A look ahead
Looking ahead at 2023, it will be more important than ever for organizations to manage their supplier risk.
Ten things I’d like to see happen in 2023 (2022 in review)
Expect big developments for the compliance profession in 2022 to continue to take center stage in the year ahead, including CCO certifications, climate-related disclosures, and more.
CPE Webcast: 2023 predictions for finance and accounting
As organizations plan for continued supply chain disruptions, talent scarcity, and market uncertainty, accounting leaders are finding ways to innovate, automate, and scale to meet organizational demands.
Compliance budgets, staffing brace for impact of recession prep efforts
Respondents to our “Inside the Mind of the CCO” survey whose businesses are anticipating an economic recession note smaller budgets and the delay of new initiatives among efforts already undertaken to cut costs.
CPE Webcast: Future of auditing, certification, and management systems
This presentation will provide a certification body leader’s perspective on where compliance meets service delivery and how this delivery and the value of compliance and conformance certification is set to change in the coming years.
U.S. law to stop Uyghur forced labor remains compliance challenge
It’s been six months since the Uyghur Forced Labor Prevention Act took effect, and businesses are no clearer today on how to comply with it, those familiar with the law said.
April 6 | Global supply chain impact on risk management
This webinar will explore the risk and opportunities as organizations rethink their supply chains and seek to build in greater transparency and resilience.
April 20 | Enhancing Xinjiang forced labor risk assessments
The Uyghur Forced Labor Prevention Act has been in full effect for almost a year now, but U.S. importers continue to face the daunting task of auditing their supply chains for nonobvious inputs mined, produced, or manufactured wholly or in part in Xinjiang.
ESG Summit: Holistic approach to supply chain risk an ‘investment differentiator’
Two experts explained how the C-suite as a whole—not just compliance officers—should be focused on the holistic approach to supply chain risk management during a session at CW’s virtual ESG Summit.
How effective beneficial ownership searches leverage technology
Determining the ultimate beneficial owner of individuals and companies your firm does business with can be a tricky thing. The most efficient investigations require an understanding of your firm’s risk appetite and appropriate technology to automate searches.
CPE Webcast: How to move an E&C program from effective to high quality
A critical component of a third-party risk management strategy is a robust compliance and policy training program that you control.
Opioid cases against retail pharmacy chains yield compliance lessons
Two cases involving five retail pharmacy chains winding their way through court foretell a long and costly road ahead for all companies across the pharmaceutical supply chain battling litigation for their alleged roles in fueling the opioid epidemic.
Webcast: Mitigating risk of Xinjiang forced labor in global supply chains
Now that the Uyghur Forced Labor Prevention Act is in full effect, U.S. importers face the daunting task of auditing their supply chains for inputs mined, produced, or manufactured wholly or in part in Xinjiang.
BIS charges Chinese cable giant with export control violations
The Commerce Department’s Bureau of Industry and Security charged China’s largest cable and wire manufacturer Far East Cable with export control violations related to its alleged dealings with telecommunications company ZTE to circumvent U.S. restrictions against Iran.
DOJ-informed compliance guidance helps Home Depot prep for potential scrutiny
How can a company prove its compliance bona fides to a regulator, should one ever come knocking on its door? The Home Depot has prepared for such a scenario with detailed guidance pegged to the DOJ’s “Evaluation of Corporate Compliance Programs.”
How compliance can help prevent human trafficking
There are many organizations that seek to prevent human trafficking, but their work can sometimes seem distant and detached from our roles as compliance professionals. We must consider how to bridge that gap, with a particular focus on supply chains.
Q&A: Flex CECO Andy Powell on scorecard to measure ethical culture
Andy Powell, senior vice president and deputy general counsel, chief ethics and compliance officer at Flex, discusses with Compliance Week the company’s approach to ethics and compliance and how he sees the profession evolving.
Financial volatility, supply chain disruptions among PCAOB 2022 inspection focuses
The Public Company Accounting Oversight Board will pay increased attention to how auditors are addressing changing risk landscapes because of the current economic environment during its 2022 inspections.
Uyghur Forced Labor Prevention Act should prompt due diligence reassessment
All companies with a global footprint should be reevaluating their supply chain due diligence and documentation practices to show the absence of forced labor in the wake of the Uyghur Forced Labor Prevention Act taking effect.
e-Book: Avoiding pitfalls of working in high-risk regions
The issues of working in high-risk regions have always been there, but recent dynamic events and circumstances have added unique challenges.
‘Have contingency plans’: TPRM expert on confronting Russia risk exposure
Melanie Gallagher, head of third-party risk management at financial software company Intuit, offered best practices for navigating sanctions compliance risks at CW’s TPRM Summit in Chicago.
Strain in your supply chain no excuse for compliance shortcuts
With the Russia-Ukraine war’s ever-expanding sanctions landscape, supply chain strain and risk of enforcement are sharply increasing. Speakers at a recent event hosted by Drexel University’s Kline School of Law offered best practices.
Best practices, common pitfalls in working in high-risk countries
A panel of compliance professionals discussed the increasingly relevant topic of working in high-risk countries, sharing their experiences and lessons learned at Compliance Week’s National Conference in Washington, D.C.
Ten highlights from Compliance Week 2022
Editor In Chief Kyle Brasseur recaps the moments that stood out to him most from Compliance Week’s first in-person event since 2019.
Expert: Combating modern slavery starts with understanding the issue
Matthew Friedman, an expert on international human trafficking with more than 30 years of experience, discussed the importance of companies addressing modern slavery in their supply chains as part of a virtual fireside chat on the human factor of ESG at Compliance Week’s National Conference.
FedEx’s social mission: Diversity drives better business
FedEx’s DEI strides—including becoming a minority-majority employee company in the U.S. for the first time in its history in fiscal year 2018—are not by accident. The company’s long history of hiring a diverse workforce and promoting from within is among the keys to its success.
Growth vs. green: FedEx’s environmental balancing act
When FedEx published its first Global Citizenship Report in 2008, its greenhouse gas emissions were already top of mind. Yet, the company has struggled to strike a balance between achieving year-over-year decreases in total emissions while it has expanded in the last decade-plus.
‘A marathon, not a sprint’: FedEx carbon-neutral pledge tests longtime ESG efforts
In March 2021, FedEx announced an audacious goal: to achieve carbon-neutral operations globally by 2040. How did the company develop this pledge, and how will it track its progress and hold itself accountable to intermediate goals?
Desire for transparency launches FedEx on ESG journey
Since 2008, FedEx has produced detailed reports on its ESG initiatives. The company’s chief sustainability officer discusses the decision-making process behind the first report, determining materiality, and more in Part 1 of this four-part special report, published in partnership with the ICA.
Cost of business? EU energy firms weigh bypassing Russian sanctions to secure gas
Russia’s squeeze on European energy companies to pay for gas in rubles might be about to pay off as some of the continent’s largest suppliers appear to be working out sanctions-compliant solutions to secure gas flows.
FRC report findings suggest overhaul needed for Modern Slavery Act
The U.K. Modern Slavery Act has often been described as “world leading,” yet companies are still failing to meet requirements by providing a statement outlining what they are doing to prevent modern slavery in their businesses and supply chains.
EU industries put to test as Russian invasion of Ukraine persists
Less than two months since Russia invaded Ukraine, a range of industries across Europe have issued stark warnings about supply chain shortages, production shutdowns, and price hikes. The worst may still be yet to come, particularly in Germany.