What Are the Key Responsibilities of Business Leaders in Compliance Oversight?
Setting the Tone at the Top: Leaders must embody the principles of ethical leadership and emphasize the importance of compliance to all employees. Establishing Clear Policies: Create and enforce policies that align with legal requirements and organizational values. Training and Education: Ensure that all employees are informed about compliance requirements through regular training sessions and updates. Monitoring and Auditing: Implement systems to regularly monitor compliance and conduct audits to detect and rectify any issues. Reporting Mechanisms: Develop channels for employees to report non-compliance or unethical behavior without fear of retaliation.