Most Asked Questions About Effective Compliance Programs On Part 3 And 4

Over the past few months, Company X has struggled with employees regularly violating compliance rules. What actions should the CCO take in response? (Hint: There are 2 correct answers).

True or False: Enron’s corporate governance failures were partially due to the absence of a Code of Ethics.

What is one criticism of the Quid Pro Quo Theory of Compliance?

Volkswagen falsified diesel emissions tests while making a push to be the top car company in the world. What theory of white collar crime might have driven the company’s behavior?

True or False: Compliance officers can handle “small” compliance incidents on their own rather than enlisting a Senior Response Team to investigate or address the problem.

True or False: A Senior Response Team, whose role is to guide the “on the ground” incident response team through the incident response process, is composed of an organization’s CFO, CIO, and COO.

True or False: Companies should avoid reporting compliance failures to the media in the absence of a legal requirement to do so.

For some organizations, the rise in the number of rules that must be followed coupled with the requirement to proactively monitor have resulted in: (Hint: There are 2 correct answers).

Which of the following is NOT a benefit of taking regulatory reporting seriously?

Two employees unintentionally violate minor compliance rules at Company X. Though the Company’s compliance training program has been reasonably effective, the violations cause the CCO to recognize the potential for further clarity. The CCO implements new technology tools to aid with instruction. Should the two accidental violators still face consequences for breach?