Posted by Tom Rollauer, Executive Director, Center for Regulatory Strategies, Deloitte & Touche LLP
Deloitte and Compliance Week magazine recently released a joint survey report on key compliance trends in 2014. The annual survey, which is in its fourth year, included 209 responses representing a wide range of industries from America and around the world. Questions focused on three major issues:
- Do compliance executives have the appropriate authority and resources to do their jobs?
- Are compliance executives addressing the right risks?
- Do compliance executives use the right metrics to measure progress?
This year’s survey found some level of improvement in all three areas; however, the results were a mixed bag and overall there is still a burning need for organizations to improve how they handle their compliance activities — particularly in light of today’s increasingly demanding compliance environment and the complex new requirements associated with laws such as the Dodd-Frank Act and Affordable Care Act.