As the previous article discussed, not only public or multi-national organizations need compliance policies—such policies can benefit a company of any size. However, there is no one-size-fits-all compliance policy or ethics program. Organizations cannot merely give lip service to compliance and ethics policies that they institute. Instead, for a corporation to receive the benefits of having a compliance policy, it must be effective.
What is an effective compliance policy?
Effective, periodic training is required
The FSGs specifically reference the need to proactively communicate the organization’s ethics and compliance program by “conducting effective training programs.” The FSGs impose the requirement that all employees, including high-level personnel, receive periodic training pertaining to their organization’s ethics and compliance standards.