Companies Strengthening Ethical Scrutiny
May 22, 2019
According to the KPMG 2019 CCO Survey, Insights on Ethics & Compliance, companies across all main industries are actively planning to strengthen their ability to detect and prevent ethical misconduct. The strategies they employ include investigations, monitoring and testing, due diligence and governance. Their efforts are spurred by increasing media scrutiny on data breaches, questionable sales practices and organizational misconduct. The report that accompanies the survey found that board engagement in ethics and compliance oversight and supervision is strong, and that business line accountability for ethics and compliance is well-established, but the ethics function continues to need to work on achieving a “trusted advisor” relationship with the business. According to Amy Matsuo, KPMG principal and Regulatory Insights national leader, integrating investigation activities with ethics and compliance risk management by various means, including investment in new technology, especially artificial intelligence, can help identify and analyze root causes and trends and improve the production of investigations.
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