There are many components common to all seven of the guidelines for a quality ethics and compliance program.
Ways to reasonably reduce the prospect of future occurrences of non compliant behavior:
A Code of Conduct
Corporate policies and procedures
Assignment of a competent and respected ethics and compliance officer
Education and training.
Specific tools and processes to assist in the basics include:
Ethics Training, Targeted Compliance training
Newsletters and other communications tools
Ethics and Compliance Website
Screening procedures prior to and during employment
Misconduct database management
Do these look familiar? They should as they permeate all of other six guidelines for an effective ethics and compliance program. Additionally as in any other enterprise activity, continuous improvement through proactive preventative and corrective action processes are essential in each of the areas noted above.
Now that we have worked our way through the basics, future postings will focus on specifics and examples to assist and illustrate how to use these programmatic to improve your organization’s ethics and compliance performance. More importantly, we will do this to make these processes assist your business to not only run more efficiently but more profitably, short and long term and increase enterprise value.