Firm Chair Kathryn Cameron Atkinson, as part of a panel assembled by Deloitte Forensic, discussed common anti-corruption challenges faced by organizations, innovative compliance strategies, and ideas for engaging the C-suite in the implementation of anti-corruption compliance programs. "Buy-in works both ways. Any CCO who wants buy-in from the C-suite needs to take the time to understand the business. Doing so enables the CCO to ensure the program is fit for purpose. Effective compliance programs include strong internal accounting controls that mitigate risk while being cost efficient and driving shareholder value. Done right, it frees the organization to focus resources on strategic priorities. A weak compliance program exposes a company to continual distractions and resource redeployment and impedes the overall progress of a business. Weakness can emerge not only from intentional employee malfeasance, but also from program design flaws rooted in a failure to tailor the program to the business. The most effective CCOs leverage existing controls and business flows. Whenever a CCO can identify opportunities to reduce compliance risk while minimizing the business burden, they will find fans among senior leaders," Atkinson said.
 
*This Compliance Brief appeared in the Wall Street Journal's Risk and Management Journal and was sponsored by Deloitte.