KPMG 2019 CCO Survey identifies ethics and compliance areas for enhancementChristian Fernsby ▼ |
America KPMG's 2019 CCO Survey: Insights for the future of ethics and compliance
A new report by KPMG shows a consensus across industries that enterprises plan to strengthen their ability to detect and prevent ethical misconduct by enhancing key compliance areas of investigations, monitoring and testing, due diligence and governance.
The report, "KPMG's 2019 CCO Survey: Insights for the future of ethics and compliance," points out that most organizations, independent of industry, are taking ethics and compliance risks seriously.
Based on a survey of 220 chief ethics and chief compliance officers (CCOs) representing the largest organizations in various industries, the report identifies mature ethics and compliance areas and offers guidance for improvement where necessary.
The report identifies the top five areas where CCOs plan enhancements to their enterprise-wide ethics and compliance activities: investigations (65 percent), monitoring and testing (65%), data analytics (32%), regulatory change management (32%) and reporting and data visualization (32%).
The report found that Board of Director engagement in ethics and compliance oversight and supervision is strong, and that business line accountability for ethics and compliance is well-established.
However, it also said the ethics function continues to need to work on achieving a "trusted advisor" relationship with the business front lines. ■
What to read next