Does your company depend on whistleblowers for compliance?
New research finds companies exposed to huge penalties by failing to focus on compliance
Compliance is under-valued by chief executives of some of the world’s biggest companies, leaving the businesses open to hacking attacks, legal risks and huge financial penalties.
Research by risk consultancy Control Risks has found that a quarter of large companies spend less than $25 a year per staff member on compliance, and a similar proportion have five or fewer people in their compliance teams.
Control Risks’ annual worldwide survey also found that less than a third of executives responsible for compliance attend all board meetings to check the subject is a priority. [MORE]