NAVEX Global's "Definitive Corporate Compliance Benchmark Report" reveals a plethora of actionable benchmarking data and insights that can inform risk & compliance program (R&C) enhancements for organizations of all types, industries, and sizes. The report is based on a 2020 survey of approximately 1,400 R&C professionals, 83% of whom were associated with North America-based organizations.
Among the key takeaways from the survey are a series of metrics that address board oversight and engagement in the company's R&C program:
- Just 8% said they do not report to the board on R&C matters.
- 45% of respondents cite an escalation policy requiring direct reporting of material issues to the board.
- 63% characterize their board reporting and engagement as good or excellent.
- 61% said their board receives one or more ethics and compliance training hours annually.
Program maturity - which is based on the number of program elements employed, the systems used to administer them, and respondents’ assessment of their program’s overall ability to address R&C issues and concerns - matters, with high-performing programs determined to be 2.2x as likely to have engaged boards and 2.9x as likely to have leadership support.
Access additional resources on our Compliance & Ethics page. This post first appeared in the weekly Society Alert!