Analysis

In Focus: Compliance Trends Survey

A collaboration between Deloitte and Compliance Week

Welcome to the Compliance Trends Survey report, a joint effort between Deloitte and Compliance Week. We have brought together Deloitte’s deep insight and experience and Compliance Week’s broad industry experience to gauge how well compliance and ethics officers are addressing the ever-deepening and expanding array of challenges and expectations that face even the most robust compliance and ethics program.

Deloitte and Compliance Week Survey

We asked compliance professionals across the world to take the Compliance Trends Survey. From the 558 qualified responses we received from across more than a dozen industries and companies both large and small, we had enough raw data to gain insight on many of today’s compliance departments. After careful review and analysis, we drew our conclusions along three key questions:

  1. Do compliance officers have enough authority?
  2. Are compliance officers addressing the right risks?
  3. Are compliance officers making the best use of technology?
     
Deloitte and Compliance Week Survey

Do compliance officers have enough authority?

As the strategic importance of robust ethics and compliance programs increases, so does the ability for compliance officers to have a mandate to act, and the resources required to accomplish the organization’s compliance goals. And while broad progress is being made on this front, it is also inconsistent from organization to organization, with noticeable differences between those companies with revenues of less than $1 billion annually, and those that top the $1 billion mark.

Are compliance officers addressing the right risks?

The persistent issues of gauging organizational culture, managing third-party risk, staying on top of ever-changing regulatory risks, and more tactically, developing employee awareness and training, conducting annual assessments of the ethics and compliance program, and having a tangible sense of faith in those metrics, all continue to drive the compliance field today. Many CCO and their departments struggle to win the battle of convincing others that compliance matters, which is critical for the cultural transformation to which any serious compliance program aspires.

Are compliance officers making the best use of technology?

These new technologies and solutions are allowing companies to better identify risks and trends, determine opportunistic strategy, and increase efficiencies. For compliance professionals, leveraging data (beyond merely hotline usage) can be especially useful, as it can help to determine what possible risks an organization might face (ranging from fraud and corruption, to discriminatory practices and market conduct infractions, and more). But do compliance departments actually have the means to harness big data for their own purposes or does that capability largely remain out of reach?

How does your organization measure compliance program effectiveness?

46%

Hotline call analysis 

30%

Analysis of results of proactive monitoring procedures

38%

Feedback from employee culture and ethical climate surveys

21%

Assessment by third party

50%

Completion rates for required compliance training

6%

Other

52%

Analysis of internal audit findings

11%

Do not know/not applicable

34%

Analysis of self-assessment results    

What is your organization doing to assess the culture of ethics and compliance?

​2015 Compliance Trends Survey report

Take a look back. Download the 2015 report to explore how compliance trends have evolved over the last few years. In this report, we examined the following:

  • Do compliance executives have the appropriate authority and resources to do their jobs?
  • Are compliance executives assessing the right risks in the right way?
  • How do compliance executives use technology to tame the challenges they face?

Download the PDF
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