Surveys & Benchmarking


Employee compensation

Report: Median general counsel salary rises again, to $2.6 million

2020-09-17T16:18:00+01:00By

General counsel compensation is steadily on the rise, according to the latest in-house counsel compensation report by Equilar and executive search firm BarkerGilmore. Inside, we also explore what companies seek in a general counsel.

AIDA cruise line

Chapter 6: Carnival looks toward a new horizon

2020-09-17T13:00:00+01:00By

Carnival will go through extraordinary scrutiny as it prepares to resume guest operations—not just in health, safety, and security but in environmental compliance as well. The storm is not over yet.

Carnival

Chapter 5: The storms merge

2020-09-17T13:00:00+01:00By

How can Carnival meet the expectations of a government-mandated environmental compliance plan and stay in the court’s good graces while the coronavirus brings business to a standstill?

Peter Anderson

Chapter 4: Carnival moves ethics and compliance to the fore

2020-09-16T13:00:00+01:00By

This installment looks at how new Carnival CECO Peter Anderson restructured the Ethics and Compliance department and developed a culture action plan to drive change across the organization.

Magic pipe

Chapter 3: Carnival’s history as serial polluter catches up to it

2020-09-15T13:00:00+01:00By

This installment looks back at Carnival’s history of environmental law convictions, plea agreements with the DOJ, criminal fines, and environmental compliance plans (yes, there is more than one).

Princess passengers

Chapter 1: Amid compliance overhaul, COVID-19 hits hard

2020-09-14T13:00:00+01:00By

It’s early 2020, and the world’s largest cruise line operator is about to confront an immutable collision of two storms: its court-mandated environmental compliance plan, more than 2 years in progress, and the imminent coronavirus pandemic.

Diamond Princess

Chapter 2: Carnival put to the test as early COVID-19 hotspot

2020-09-14T13:00:00+01:00By

As more and more Carnival ships become hotbeds of infection and the company faces harsh criticism, CEO Arnold Donald trumpets the company’s unwavering focus on compliance.

Carnival index

Compliance Week presents: ‘A Tale of Two Storms’

2020-09-14T13:00:00+01:00By

Our first-ever case study is the story of Carnival’s quest for compliance redemption, set in the context of not only new leadership and a court-appointed monitorship, but in the midst of a global pandemic.

Bribe

Benefits of bribery: New study separates fact from fiction

2020-09-09T17:11:00+01:00By

While bribery can provide companies with major short-term gains, there is little evidence to support many other beliefs surrounding the “return on investment,” according to a new study.

Trending down

Report: 2019 restatements at 19-year low; revenue still top issue

2020-09-08T17:59:00+01:00By

According to Audit Analytics’ latest annual restatement study, the total number of restatements dropped for the fifth consecutive year to a 19-year low of 484, with revenue recognition still the biggest driver.

Carnival

‘Tale of Two Storms’: Carnival compliance case study to launch Sept. 14

2020-09-08T14:22:00+01:00By

CW is excited to announce the upcoming publication of its first-ever case study, a deep dive into the history of environmental transgressions at Carnival, its path back to compliance under new leadership, and its shift to crisis management mode when COVID-19 hit.

RecordsMgmt

Survey: Automating entity management greatly reduces compliance risk

2020-08-31T12:31:00+01:00By

A new study from Compliance Week and Diligent finds that many companies are still using unsecure and inefficient entity management processes, leaving them vulnerable to compliance risk.

COVID-Prep

Survey: Coronavirus revealed weaknesses in companies’ GRC, data processes

2020-08-24T14:13:00+01:00By

A recent survey from Compliance Week and Riskonnect of 261 compliance and audit professionals found that half of the respondents were not prepared for the coronavirus pandemic with an updated crisis management plan.

Employee pressure

Survey: Weak leadership contributes to employee pressure to bend rules

2020-08-21T17:56:00+01:00By

A new global business ethics survey released by the Ethics & Compliance Initiative seeks to explain what factors contribute to employee pressure to compromise ethical policies or regulations and how to reduce that pressure.

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CPE Webcast: Survey insight into how COVID-19 impacted company leases

2020-08-18T14:00:00+01:00Provided by

In this webinar panel discussion, we will share striking results from a recent COVID-19 lease impact survey and key insight into how companies’ real estate and equipment leases were impacted by shutdowns and stay-at-home orders.

AuditResources

New survey highlights internal audit’s vital role in fraud risk management

2020-08-13T17:48:00+01:00By

The more internal audit plays a key role in the strategic management of fraud, the more effective and robust organizations’ fraud risk management processes seem to be, according to the results of a recent Kroll/IIA survey.

CCPA-OpenText

Survey: Companies say lack of guidance, budget restrictions hamper compliance with CCPA

2020-08-12T19:13:00+01:00By

Complying with provisions of the California Consumer Privacy Act continues to be difficult for many companies, according to a new survey from Compliance Week and OpenText.

LeasesSurvey

Survey: How COVID-19 has impacted companies’ leases

2020-08-11T19:22:00+01:00By

The coronavirus pandemic has wreaked havoc on companies’ leasing function, according to results from a recent survey from Compliance Week and Visual Lease. The study reveals how companies are tackling leasing issues in the “new normal.”

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CPE Webcast: Third party risk management: Are programs up to scratch?

2020-08-11T14:00:00+01:00Provided by

This webinar will discuss the results of the Compliance Week and Aravo TPRM benchmarking survey in the context of the DOJ’s Evaluation of Corporate Compliance Programs.

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CCOs show resilience in early survey data; compliance-blind NRA in crosshairs

2020-08-06T20:41:00+01:00By Compliance Week

The National Rifle Association “Failed It” big time if a suit alleging a lack of compliance controls proves true. Meanwhile, we tip our caps to the stalwart CCOs who carry on despite a cut in pay and resources due to the pandemic.

coronavirus office

Don’t wait for Congress to save your firm from coronavirus liability

2020-08-05T13:59:00+01:00By

If you are an employer hoping Congress will pass a “coronavirus liability shield” bill to help your company deflect COVID-19 lawsuits, consider this: No such “shield” will do much good unless you’ve already taken action to create a safe workplace.

Data money

IBM report: Average data breach cost nearly $4M in past year

2020-07-30T16:41:00+01:00By

An IBM report that examined more than 500 cyber-security breaches occurring between August 2019 and April 2020 found the average breach costs companies $3.86 million and requires nearly 300 days to identify and contain.

Three Lines

Analysis: Comparing the IIA’s new ‘Three Lines Model’ to the old one

2020-07-29T16:42:00+01:00By

The biggest improvement in the IIA’s new “Three Lines Model” of risk management is it allows for greater flexibility between “lines” and is less likely to be interpreted so literally.

GoodRiskMgmt

Shared elements of best-in-class risk and compliance programs

2020-07-28T15:50:00+01:00By

A revamped NAVEX Global report reinforces a long-held belief in the compliance industry that those companies that trust employees to behave ethically continuously work to improve culture.

Three Lines

IIA’s ‘Three Lines of Defense’ updated to stress collaboration

2020-07-20T18:30:00+01:00By

The Institute of Internal Auditors’ updated “Three Lines Model” ditches the focus on defense of its predecessor to encourage more effective collaboration between key players within an organization.

AI United States

Study: U.S. largest target for ‘significant’ cyber-attacks

2020-07-13T15:55:00+01:00By

The United States has been on the receiving end of more significant cyber-attacks over the last 14 years than triple any other country, according to new research.

Integrity

From financial crisis to coronavirus: Shifting compliance trends in financial services

2020-06-18T19:43:00+01:00By

Keeping up with regulatory change; budget and resource allocation; and data protection issues were cited as the top three compliance challenges in the financial services industry, according to a recent study.

Ethics

LRN survey: Values, not policies, drive ethical behavior

2020-06-15T15:16:00+01:00By

Establishing a culture based on values and transparency is more effective at preventing misconduct than a robust set of rules, according to an LRN survey.

Data breach

Report: Average data breach costs public companies $116M

2020-06-09T20:02:00+01:00By

An Audit Analytics report on cyber-security breaches at public companies found the sensitivity of customer information stolen—along with length of time it took companies to report breaches—greatly affected the financial damage the breaches caused.

SupplyChainInnovation

Driving innovation in supply-chain practices post-pandemic

2020-05-14T18:43:00+01:00By

A number of forward-thinking companies are using the coronavirus pandemic as an opportunity to drive promising innovations in their global supply chains.

kroll 300x200

CPE Webcast: 2020 Anti-bribery and corruption emerging trends

2020-04-30T14:00:00+01:00Provided by

Compliance professionals are all too aware that the third parties they depend on to achieve success pose a significant threat to their organizations for bribery, fraud, and corruption.

Mergers

M&A due diligence landscape forever altered by coronavirus pandemic

2020-04-29T19:45:00+01:00By

The coronavirus pandemic has affected both the risk landscape and the diligence protocols for merger and acquisition transactions at every stage of the game. But while deal terms may be negotiable, what should be non-negotiable is the compliance function’s role in M&A transactions.

Hotline

Best practices for maintaining a healthy incident-response program

2020-04-28T15:18:00+01:00By

NAVEX Global’s annual “Risk & Compliance Hotline Benchmark Report” provides chief ethics and compliance officers with best practices on how the performance of their hotline and incident-management programs stack up against their peers.

GoingConcernDrop

Study: Going concern opinions in 2018 at lowest level in 19 years

2020-04-15T14:36:00+01:00By

Public company audit opinions communicating doubts about their ability to continue as going concerns reached a 19-year low in 2018, based on the latest report from Audit Analytics.

MoneyScattered

Survey: Coronavirus has companies scattered with exec pay packages

2020-04-08T19:29:00+01:00By

Results from executive compensation consulting firm Pearl Meyer’s recent survey show that companies are all over the place with how they intend to treat executive compensation during the coronavirus pandemic.

Money laundering

Study: Europe blows U.S. away in financial crime spending

2020-04-07T14:44:00+01:00By

A new report found financial institutions spent $181 billion on financial crime compliance worldwide last year, with European firms spending three to four times more than their counterparts in North America.

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Coronavirus will raise profile of compliance moving forward

2020-04-06T13:11:00+01:00By

The status of compliance practitioners has grown over the past decade, buoyed by changes in the regulatory space as well as record penalties for transgressions. It will become even more important in the wake of the coronavirus pandemic.

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Survey: Lessons from those who weren’t ready for coronavirus

2020-04-02T14:58:00+01:00By

Survey respondents who said their companies weren’t prepared for the coronavirus pandemic said they failed to recognize that the pandemic would morph from a far-away, supply chain disruption issue into a complete business shutdown at home.

Business chaos

Survey: With ethical dilemmas aplenty, compliance in position to lead

2020-04-01T14:27:00+01:00By

The coronavirus has turned everyday no-brainers into ethical quandaries, which makes it all the more critical for ethics to play the role of conscience for the business.

Coronavirus future

Survey: Past crises prepared compliance for coronavirus pandemic

2020-03-31T15:16:00+01:00By

A benchmarking survey from Compliance Week found practitioners weren’t prepared for the specific coronavirus crisis, but that previous crises (think 9/11) left them ready to be leaders during this global pandemic.

Bribe

TRACE: Bribery enforcement down in 2019

2020-03-20T17:32:00+00:00By

Risks in the extractives and aerospace industries are still prevalent, but the number of overall global and U.S. enforcement cases involving bribery dropped in 2019, according to the latest report from TRACE International.

Data money

U.K. AML report: Data analysis of risks lacking

2020-03-20T16:57:00+00:00By

Implementation of risk-based processes and the data analysis that sits behind them are among the biggest weaknesses laid out in a review of AML efforts in the accounting and legal sectors conducted by the U.K.’s financial watchdog.

Cyber locks

Study: Fear of data breaches stifling bank innovation

2020-03-19T15:20:00+00:00By

Research by consultancy firm Accenture shows companies in financial services are more concerned with guarding themselves against the impact of a data breach than realizing any financial benefits of using the data.

PwCcrop

PwC survey: Finance leaders worried about global recession

2020-03-16T20:10:00+00:00By

The potential for the coronavirus outbreak to lead to a global recession topped the list of concerns among finance leaders based in the United States and Mexico, according to a new survey released by PwC.

big-four-auditor-changes

Audit client turnover 2019: Deloitte dominates; KPMG, EY, PwC falter

2020-03-10T16:15:00+00:00By

For the fifth consecutive year, Deloitte net positive in new SEC audit engagements while the rest of its Big Four peers saw net decreases in clients, according to the latest annual study from Audit Analytics.

600x400 cco

Six veteran CCOs, 5 questions: Improving your compliance training

2020-02-13T15:50:00+00:00By Compliance Week

Six senior compliance practitioners offer their perspectives on what makes for an effective training program and share tips and guidance for companies looking to enhance their education initiatives.

Fines

Study: Post-financial crisis fines against financial institutions hit $36B

2020-02-11T19:39:00+00:00By

Global fines and penalties against financial institutions hit $36 billion last year, as ramifications from the financial crisis continue to reverberate throughout the financial services industry, according to a new report.

Training

Survey: Lack of adequate funding for compliance training pervasive

2020-02-10T21:06:00+00:00By

If you’re among the practitioners who need more resources to turn your compliance training program into one that is truly effective (and that’s many of you, according to our survey), we have some advice.

RiskLessons

Study: Compliance officers in finance face ‘unnecessary risks’

2020-02-04T20:32:00+00:00By

Compliance officers in the financial services industry face “unnecessary risks” that undermine effectiveness and regulatory goals, according to a new report by the Compliance Committee of the New York City Bar Association.

columnist icons

Confronting ‘willful intent’ in third-party corruption cases

2020-02-04T20:03:00+00:00By

Even as companies continue to agree to multi-billion-dollar settlements related to the corrupt acts of third parties, managing the risks associated with them nevertheless eludes many compliance departments.