When an organization’s compliance function is effective, its success is often quantified by what didn’t happen: lawsuits, damage to reputation, lost business, legal sanctions and so on. The absence of any compliance-related incident often makes management complacent about compliance.
As a result, some of the function’s budget may even be reallocated to fund activities that are perceived to have a better impact on shareholder value and earnings. However, with focus on anti-corruption laws and workplace safety policies intensifying globally, such a stance carries significant risks.
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