Compliance culture

Compliance culture

Setting the tone from the top is essential, but ensuring the entire organisation is aware of its ethical and legal obligations is a much broader task. If your organisation is working towards a genuinely compliant culture, some key areas for your in-house legal or compliance team to work on are:

•
knowing and understanding your business
•
establishing a solid decision making framework
•
convincing the board
•
engaging the wider organisation

Knowing and understanding your business

Everyone wants the business to be successful and when faced with a number of interpretations of the law or financial data it is tempting to veer towards the one that shows the business in its strongest light: most compliance breaches are not often driven by, for example, a criminal desire to steal from shareholders.

'This is the way we've always done it' can be a compelling reason to avoid rocking the boat but the implications are always felt in the long term. Ultimately, making the right decision in a grey area comes down to you as a compliance professional and

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