question archive You have learned about the foundations of strong compliance program and you have also learned about multiple compliance failures across industries
You have learned about the foundations of strong compliance program and you have also learned about multiple compliance failures across industries
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You have learned about the foundations of strong compliance program and you have also learned about multiple compliance failures across industries.
Using the foundational elements of a strong compliance program, please provide a summary of the common themes or failure points that existed in the case studies covered thus far – element by element (i.e. common failure points across all the case studies due to the lack of a consistent approach to compliance risk across the organization).
Structure your response by each foundational element.
Your response should be at least 3 pages and no more than 5.
Go back to the lecture and structure your response the way the lecture is laid out, which is also recapped below:
Consistent approach to managing compliance risk across the organization
Where in the case studies was a lack of a consistent approach a contributing factor in the failures or the extent of the failure
Where could a consistent approach to managing compliance risk have prevented or reduced the impact of the failures?
Independence of Compliance staff………same questions
Effective and routine assessment of compliance risks……..same questions
Detective monitoring and testing for compliance……..same questions
Reporting and escalation……..same questions
Senior Management Accountability ……..same questions
Board Oversight ……..same questions
