Wednesday, 05 September 2012 00:00

Who Owns Compliance?

Much has been written on whether the compliance function should report to the General Counsel of the Corporation, the CEO or the Board. But is is important to understand who has ownership of the compliance responsibility within the organization? If compliance resides chiefly within the compliance department, the legal department, or even with the CEO, the company's compliance efforts will not be effective. Compliance must be owned by the business units. It is the business units that have to deal with day to day activities that may affect the company's adherence to legislation, regulation or internal policies and procedures. Compliance…
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