Establishing a culture of integrity, ethics and respect is the number one priority for companies in 2017, according to a new Report.
Notably, this year’s report shows that establishing a culture of integrity, ethics and respect is the number one priority for companies in 2017. In common with the 2015 report, getting an organisation's culture right is the main objective for compliance professionals in the year ahead, with 85 per cent of respondents saying it is one of their three main goals.
However despite this, only 32 per cent of firms indicated that they are planning to undertake a culture or ethics assessment in the next twelve months. In addition, workplace behaviour was rated as the lowest area of risk receiving attention by stakeholders (29 per cent).
In addition, the Report found that:
- Eighty five per cent of respondents say instilling a culture of integrity, ethics and respect is their number one priority for the compliance role in 2017
- Board level reporting means senior leadership can play a major role in ethics and compliance engagement
- Increasing awareness of ethics and compliance policies and regulations across an organisation is the top compliance activity planned over the next 12 months (80 per cent of respondents).
- Satisfaction concerning the management of third party risks receives the lowest performance rating, with 63 per cent of respondents seeing this as ‘Poor’ or ‘Fair’.
Please click here to download the report.