Compliance Program Assessment
With the increased focus on corporate governance and board oversight of management practices, the compliance program can play an important role in ensuring that an organization’s corporate governance structure is effective. Our assessment report gives the compliance officer, the board of directors and executive management guidance on how the organization’s compliance program can be fortified to ensure that it meets its objectives.
Program Assessment Applications:
Program Assessment Process:
Our assessment protocol includes an in depth review of your entire compliance program, beginning with a focus on the seven elements of an effective effort. We critically assess the program in light of your organization’s current operations, potential risk areas for non-compliance, and annual objectives. In addition, we compare your program to those of organizations which, in our opinion, have achieved a level of performance commensurate with “best practice” for that program element. Finally, we make specific recommendations on how your program can be modified to enable you to achieve best practice, and to maintain a viable and valuable compliance program for your organization.
Click here to learn about specific areas we focus on when conducting program assessments.
- Governance structure of the organization and the program
- Management support of the compliance efforts
Corporate compliance officer and staff:
- Compliance function status within the corporate organization
- Structure and resources of compliance office
- Delegated compliance responsibilities
Code of Conduct and compliance-related corporate policies:
- Content and effectiveness of Code of Conduct
- Distribution of Code and employee awareness
- Review of corporate policies and procedures
- Review of compliance-related policies and procedures
Internal reporting process:
- “Hotline” or other formal reporting mechanisms
- Informal reporting processes
- Effectiveness of review process and procedures
Compliance education and training:
- Effectiveness of training program in light of corporate values
- Content and adequacy of subject matter
- Delivery and audit of training program
Internal controls and corrective action:
- Adequacy of internal audit process
- Compliance audit protocols
- Implementation of corrective actions
- Discipline process
Periodic review of compliance program:
- Relevance to current operations
- Implementation of modifications to reflect business changes,regulatory requirements, etc.