[author: Linda Luty]
NAVEX publishes the Definitive Risk and Compliance Benchmark Report each year, surveying over 1,100 industry professionals. The purpose of this report is to provide insight into the effectiveness of R&C programs and enable leaders to share findings with their boards of directors, c-suite and other stakeholders. Among other things, this information can be used to demonstrate how the program stacks up and where opportunities exist for improvement. This post explores one of the report’s key findings: E&C programs still have opportunities to better utilize program data.
Data lives everywhere in your organization, but if you can't find the data you need, it might as well live nowhere. Siloed information is essentially useless if the data is not in the correct hands, or if it is simply being collected and shelved. One of the richest sources of data comes from ethics and compliance programs, particularly from the whistleblower hotlines, where inquiries and reports provide invaluable insights into the culture health of the organization.
There is significant conversation about the importance of building compliance programs on a strong foundation of risk assessment, including guidance from the U.S. Department of Justice. This guidance also expects that compliance officers have access to cross-functional risk data. Yet, in the 2022 Risk and Compliance survey, fewer than half of respondents whose organization uses risk assessment results (47%) indicated...
APPLETON, Wis. (WBAY) - An Appleton medical clinic will pay over $382,000 to settle accusations from the U.S. Attorney’s Office that it submitted false claims to Medicare and offered medically unn...