4 Steps Corporate Directors Need to Take Toward Compliance 2.0
I have written about the need for corporate boards to embrace a “new reality,” reflecting the increased risks and the importance of ethics and compliance. Corporate boards can no longer rely on prior legal models to satisfy governance standards; instead, corporate boards have to transform to a new model of governance.
To properly exercise their compliance oversight duties, Boards should take these four basic steps toward Compliance 2.0:
1. Get Modern Board Training to Support Compliance Oversight
2. Promote the CCO’s Role in the Boardroom
3. Strengthen Oversight and Ensure Compliance is Structured for Success
4. Attend to Corporate Culture to Increase Sustainable Profits
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