Directors as Guardians of Compliance and Ethics Within the Corporate Citadel: What the Policy Community Should Know
Jul 26, 2010
Directors as Pillars of Rectitude and Compliance in the Corporation
Published in: Corporate Finance Review, Vol. 15, no. 3, Nov./Dec. 2010, p. 17-24
Posted on RAND.org on January 01, 2010
Directors face newly heightened expectations to recognize and fulfill their responsibilities to oversee the company's management of compliance, ethics, and reputation risks. They must perform compliance and ethics (C&E) oversight, and take on the necessary data-gathering responsibility to understand their firms deeply. Directors should not be operating unassisted when it comes to carrying out their responsibility. Appointing a strong, independent Chief Ethics and Compliance Officer (CECO) to act on their behalf is an essential starting point.