In the article: Chasing the goal: How do you know if your compliance program is truly effective?, authors Debbie Troklus, President of Troklus Compliance Consulting, and Sarah M. Couture, Managing Director, Ankura discuss why effectiveness is important, why it can be challenging to achieve, the hallmarks of effective compliance programs, methods and tools to help gauge effectiveness, and practical pointers as you continue chasing the goal of compliance program effectiveness.
Takeaways:
All compliance programs should be intentionally pursuing effectiveness.
Effective compliance programs have many other benefits besides the primary purpose: mitigating the ultimate punishment of an organization.
Organizations face a variety of challenges to achieving effectiveness, including, but not limited to, support, resources, authority, engagement, and culture.
There is no one way to assess effectiveness; rather, programs should use a variety of guidance documents, methods, and tools to develop an approach to evaluation of effectiveness.
Evaluation of effectiveness should not just happen once but instead be an ongoing assessment and improvement process.
Read the full article: https://ankura.co/3u6totA
© Copyright 2022. The views expressed herein are those of the author(s) and not necessarily the views of Ankura Consulting Group, LLC., its management, its subsidiaries, its affiliates, or its other professionals. Ankura is not a law firm and cannot provide legal advice.
