When a compliance professional perceives their pay package may be reduced as a result of their actions, there is a risk of biased decisions.
For many organisations, recent developments mean an accountable person responsible for compliance needs to be a board director. For some firms this might be the CEO, a legal director or a dedicated compliance director.
The individual accountable for compliance needs to feel safe to speak their mind and always be trusted to do this. The board must take on the recommendations presented by the head of compliance but also be in a position to make up their own minds in order to navigate a correct course of action.
There is however a balance: most organisations exist to meet strategic commercial objectives and not solely to be compliant. It i
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda
Cybersecurity has become one of the biggest concerns for boards and investors. FTSE 350 audit committee chairs and institutional investors recently discussed how boards can best protect their companies—particularly ahead of the new data protection law in May.
Register to receive free article views and resource downloads, plus all the latest news alerts straight to your inbox. Register