Risk Management - Should You Track Your Compliance Record?

At a recent gathering of senior-level corporate compliance, audit, risk and ethics officers, a survey was taken to determine how many were measuring their compliance records from year to year. It turns out that almost 1/3 of the primarily U.S.-based companies do not measure the effectiveness of their compliance programs at all.

This is pretty astounding considering how great the risks of non-compliance can be.

Any training program should be measured before, during and after to learn whether or not it was successful. Did the program achieve its goals? Did the behavior of targeted employees actually improve on the job? Did the behavior change impact performance in the way that you wanted it to?

And so it should be with corporate compliance training. Responsible executives need to know that their workforce is operating within the law and following legal regulations. There should be annual reviews of the results from internal audits, updated rulings, and ethics and customer complaints. This is the only way to zero in on any patterns of compliance concern and proactively protect individual employees as well as the overall organization from undue risk.

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