Wall Street Journal: Survey Roundup: When Mandatory Training Isn’t Enough

Sixty-Seven Percent of Compliance Executives Mandate Bribery and Corruption Training for All Managers, Consero Survey Finds
June 29, 2015
June 2015 Corporate Finance Report
June 29, 2015

Wall Street Journal: Survey Roundup: When Mandatory Training Isn’t Enough

Originally Published in the Wall Street Journal | June 26, 2015 | By Ben Dipietro

Yes, You Must: Two-thirds of the companies that were asked say they mandate anti-bribery and anti-corruption training for their senior executives, according to a survey from executive meeting firm Consero Group. While training is mandatory, executives feel their companies aren’t keeping up with technology, as only 20% said their business has the necessary technology infrastructure to meet the needs of its compliance requirements. Only 10% of compliance officers who were asked mentioned technology as an area of focus.

“Today’s chief compliance officers face an increasingly complex landscape, with bribery and corruption remaining top risks that warrant manager training,” said Paul Mandell, founder and chief executive of Consero. “Fortunately, CCOs have embraced this reality. However, the fact that just a small percentage believe their companies have technology infrastructure necessary to meet their compliance needs is a cause of concern.”

Food For Thought: A survey of 179 food and beverage executives by consulting firm McGladrey found about 40% said product quality is a major risk, and about 45% said improving the ability to respond to a product recall is a top priority.

Emerging Risk: A survey of 150 business leaders in North America and Europe found 83% of respondents saying their multinational company has suffered a significant loss in an emerging market since 2010, with the average loss $325 million, according to a report by FTI Consulting.

Not Ready for Prime Time: A survey of 313 IT professionals by software firm Ipswitch found 59% of respondents admitting they are not fully prepared for a compliance audit—and 75% said they lacked confidence in their colleagues’ ability to handle sensitive data.

Top Risk: Seven in 10 respondents said cybersecurity ranks as their top casualty exposure, according to a survey of 135 insurance industry professionals by insurer RHK Specialty. The top property insurance exposure was supply chain disruption at 61%.

Cyber Scourge Spreads: A report from cyberdefense firm Vectra Networks found dramatic increases in lateral movements and reconnaissance are signs attackers are using targeted attacks to find ways past a company’s security perimeter.

Cyber Law Update: Experian Data Breach Resolution is out with a report looking at the current state of data breach legislation in the U.S., Europe, Australia and Brazil.

Investors Weigh In: A survey by PwC of 20 institutions representing about $9 trillion in assets found 83% of investors want a company to disclose what it does to mitigate identifiable risks—the same percentage that wants disclosures to include more analysis of risk factors.

Pays To Be King: U.S. chief executives make on average 300 times what the average U.S. worker makes, according to a report from the Economic Policy Institute.

A Rose Is A Rose Is A?: A survey of 500 U.S. citizens by data protection firm ZixCorp. found 55% said a retail breach and health-care breach are equally bad to them, with 13% saying retail breaches are worse.

Work And Play: A survey of 1,000 workers in the U.S. and U.K. by GFI Software found 26% use their work email to send personal messages.

Write to Ben DiPietro at ben.dipietro@dowjones.com, and follow him on Twitter @BenDiPietro1.