Originally Published in the Wall Street Journal | February 12, 2016 | By Ben Dipietro
A look at some recent surveys and reports dealing with risk and compliance issues. Send surveys and reports to firstname.lastname@example.org.
Out Of Alignment: A survey of chief compliance officers by executive-level events company Consero Group found 58% of respondents said the compliance function is not integrated sufficiently into corporate decision-making and strategy. Respondents said insufficient staffing (22%) and lack of management buy-in (16%) were the two main impediments to better integration of compliance.
“While Compliance Officers’ influence on decision-making and strategy has grown over time, there remains a great deal of opportunity for compliance integration,” said Paul Mandell, chief executive of Consero Group. “By working across the C-Suite and leveraging their teams, today’s chief compliance officers can prove the worth of their function.”
Premature Introduction: A survey of 1,414 in-house IT professionals by data security firm Trustwave found 77% said they are pressured to go public with IT projects that don’t have sufficient security protections.
Feminine Mystique: A report from the Peterson Institute for International Economics that analyzed 21,980 publicly traded companies in 91 countries found those companies thathad women in more executive positions were more profitable than those that didn’t.
Culture Club: Creating a culture of compliance and encouraging whistleblower activity are two of the top five compliance trends for 2016, according to Thomson Reuters.
Managing Without A Plan: A survey of around 320 financial executives from Canada-based companies by Chartered Professional Accountants of Canada and Financial Executives International Canada found one in five firms don’t have a documented risk management plan in place.
Same Old Same Old: A survey of around 1,200 corporate directors and senior executives by KPMG found 32% said they are “very concerned” and 46% said they are “somewhat concerned” that management uses old assumptions when setting strategy.
Third-Party Shortcomings: A survey of around 300 ethics and compliance professionals by compliance services firm Navex Global found 32% of respondents said they don’t evaluate third parties before engaging with them.
United We Comply: Researchers from George Washington University and Samford University published a paper in which they spell out what they say is a unified approach to complying with all laws and regulations.
Stuck In The Middle: A survey of around 700 U.S. middle-market business ownersand executives by payroll and HR services firm ADP found 41% listed the volume of government regulation as their top concern.
Dirty Laundry: The Financial Action Task Force issued a report looking at Italy’s effortsto fight money laundering and terrorist financing, finding the country has a strong legal and institutional framework but needs to improve its investigative and prosecutorial actions.
Life After Sanctions: A report from PwC looks at the challenges U.S. companies facein Iran and Cuba in the wake of sanctions being lifted in both countries.
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