Most CEOs would agree that ensuring the ethical behaviour of employees and all stakeholders, is integral to the success of a business, and for maintaining positive relationships with all business partners. Many organizations have a Code of Ethics in place, but would they be able to provide documentation to prove it?
There's no one-size-fits-all compliance program. Depending on a variety of factors such as size, type of business, industry and risk profile, an organization should determine what is appropriate for its own needs regarding a FCPA compliance program. The following are 10 tips meant to provide insight into what the SEC looks for in a compliance program. Have a read through these and use them to assess your own compliance regime.
Implementing a strong ethics and compliance program with a 24/7/365 anonymous hotline is one of the best tools an organization can utilize to stop unethical behaviour in its tracks. In a recent study by Ernst & Young, 1 out of every 5 American workers possessed some sort of personal knowledge about wrongdoing in their place of employment. And a great organization that has upper management’s complete support of a whistleblower system and encourages it’s employees to come forward and anonymously report instances of wrongdoing won’t have too much of a hard time keeping employees motivated and productive in their jobs.