Building a World-Class Compliance Program: Best Practices and Strategies for Success

Hardcover
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Author: Daniel R. Biegelman

ISBN-10: 0470114789

ISBN-13: 9780470114780

Category: Auditing

Praise for Building A World-Class Compliance Program\ "The globalization of business and communications presents unprecedented opportunities for successful growth in many industries and for companies large and small. Conversely, the compliance challenges faced by businesses worldwide have never been more challenging. The urgency to develop a world-class compliance program has never been greater. This book is a must for all companies facing today and tomorrow's compliance challenge."\ —John...

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Building A World-Class Compliance Program If you want to ensure that your organization is doing everything possible to prevent misconduct and follow laws, rules, and regulations, this book is for you. The devastating accounting scandals and corporate frauds at Enron, WorldCom, Tyco, Adelphia, and numerous other companies reinforced the importance of compliance programs. Effective compliance programs prevent and detect misconduct and protect the interests of shareholders, employees, and the public. Authoritative, comprehensive, and insightful, Building a World-Class Compliance Program covers: Building the business case for ethics and compliance in an organization "Tone at the top" and throughout the organization Case studies and best practices of world-class companies and those emerging from compliance failures History, growth, and evolution of corporate compliance Detailed discussion of the Federal Sentencing Guidelines for Organizations and the Seven Steps to an effective compliance program U.S. Department of Justice's McNulty Memorandum and the revised principles of federal prosecution of business organizations SEC's Seaboard Criteria in mitigating enforcement actions The importance of the Sarbanes-Oxley Act and the Caremark case Globalization of business, the risk of corruption, and the expanding reach of the Foreign Corrupt Practices Act Anti–money laundering enforcement and the USA PATRIOT Act Why every organization needs a "Skunk in the Room" Written by a long-standing practitioner in the field, this is a timely and critical work put forth in a very readable and impactful fashion. It provides clear guidance for those charged with protecting their companies from financial and reputational risk, litigation, and government intervention, who want a robust guide to establish an effective compliance program. Interviews with thought leaders and experts in compliance along with recommended action steps give a unique, firsthand perspective. Also included are fraud prevention policies and plans to implement. Compliance insights throughout the book detail case studies, strategies for success, sample programs, and survey findings. Embracing and implementing corporate compliance policies and procedures is the only option. True corporate responsibility and accountability require all companies, public or private, large or small, foreign or domestic, to have effective compliance programs. Whether you're a CEO, CFO, compliance officer, manager, auditor, risk management professional, or a student, Building a World-Class Compliance Program is your best source for understanding all the complex issues and requirements associated with corporate compliance.

Foreword     xiPreface     xiiiAcknowledgments     xviiAbout the Author     xixWhy Ethics and Compliance Will Always Matter     1Tone at the Top and Throughout     25The Growth and Evolution of Compliance     45Caremark and Sarbanes-Oxley: Enhancing Compliance     71CA's Compliance Rebirth: Don't Lie, Don't Cheat, Don't Steal     87The International Landscape of Compliance     107Compliance Programs and Anti-Money Laundering Efforts   Marc B. Sherman   Laura Connor   David Meilstrup     131About the Chapter Authors     148Interview with an Ethics and Compliance Thought Leader     149Building a World-Class Compliance Program: The Seven Steps in Practice (Part I)     163Building a World-Class Compliance Program: The Seven Steps in Practice (Part II)     191Recognizing Compliance Excellence: Premier, Inc. and Winning the Baldrige Award     219Designing Robust Fraud Prevention Policies: The Airservices Australia Fraud Control Plan     233The Skunk in the Room     257Summary of the 2004 Federal Sentencing Guidelines Amendments and Recommended Action Steps     269Sample Compliance Program Charter     277Resources for Compliance Professionals     283Index     291