Kicking The Tires And Taking Her Out For A Spin: How To Audit A Compliance Program

• Posted by Geoffrey G. Gussis on July 2nd, 2007


• Filed in Risk Management & Compliance

The Practising Law Institute has released another free download that may be of use to in-house counsel involved in compliance programs:

Compliance programs, like anything else, are only as good as the companies implementing them. What good is it to spend tens of thousands of dollars and untold hours developing the best compliance program that money can buy if you dont make sure it works. Like an automotive tune-up, the compliance program audit is something that is necessarystrike that requisitein order to a test your compliance systems against the reality of everyday business, and b get the full benefit of the Federal Sentencing Guidelines for they, as well as Sarbanes-Oxley, require such audits. Indeed, the recent McNulty Memorandum that the CC has been obsessing about for months specifically mentions the audit function as a key in evaluating compliance programs. Of course, simply directing that an audit be done is easy. The difficult part is realizing that the compliance audit is yet another, actual layer in an efficient compliance program rather than some separate function.”

Read more at PLI - The Compliance Counselor and get the download here.