How does compliance relate to the "bread and butter" work of a law department (i.e., dispute and litigation management)? How can an effective compliance program help a law department to address those challenges?
Utilizing approaches to matter management developed in the compliance environment would provide a company (and its law department) a means by which to reduce the company's exposure to disputes and litigation, or at least a means to reduce the total exposure it might otherwise have in that regard.
Directors' responsibilities have increased significantly of late, A company's compliance program should reflect that fact and therefore appropriately stress training for its directors to prepare them to fulfill those responsibilities adequately.
The risks that an organization faces in its operations vary from entity to entity due to many factors. Accordingly, its ability to anticipate those risks and to create a program that identifies them prospectively and includes processes and procedures that will effectively ameliorate those risks depends on its conducting an effective risk assessment.
Establishing a budget for a corporate compliance program will require securing support from senior management for that business unit and the resources needed to meet the tests applied by external audiences, such as prosecutors.
Creating a corporate compliance and ethics program requires a reasoned approach that requires many decisions. The authors of this piece identify several of the more significant issues that one faces in that process and the considerations that should be taken into account.
A corporate compliance and ethics program must include appropriate training according to government guidance. Increasingly, companies establishing such programs turn to web-based training to reach their global workforces.
The evolution of corporate compliance programs often follows guidance from government agencies. Changes effected in 2004 in the Sentencing Guidelines for Organizational Defendants imposed greater responsibility on corporate management and directors in the context of such programs.