In these years of prodigious change that have shifted the way in which global companies operate, Chief Ethics & Compliance Officers (CCOs) are taking the lead as change agents advancing their functions, operations and analytics from responsive to proactive. They are anticipating shifts in regulatory and stakeholder expectations and preventing exposures before they occur by adopting new approaches and technologies that help their companies stay at the forefront of change.
Enhance: Respondents were overwhelmingly clear that automation and technology would be integral to their compliance efforts (67 percent). This was the respondents’ overall top activity that they will focus on enhancing in the coming years; in contrast, CCOs responding to the KPMG 2019 CCO Survey selected “monitoring and testing” and “investigations” as their top activities to enhance.
Top ethics and compliance activities to enhance
Use of automation and technology
Regulatory change management
Monitoring and testing
Refine: Across all industries, the largest percentage of respondents indicated that their top obligation to refine in the coming years was industry-specific regulations (39 percent), which is a significant increase from our 2019 CCO Survey. Other top obligations that CCOs are focused on refining include consumer protection (35 percent) and cyber/information protection (28 percent). Scroll down to request the full survey report.