MINNEAPOLIS, Nov. 16, 2012 /PRNewswire-USNewswire/ -- The Society of Corporate Compliance and Ethics (SCCE) today applauds the Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) for developing its comprehensive Foreign Corrupt Practices Act (FCPA) guide. The SCCE is pleased that the DOJ and the SEC recognize and support the essential and integral role compliance programs play in a company's commitment to good corporate citizenship.
The DOJ and the SEC this week released "A Resource Guide to the U.S. Foreign Corrupt Practices." The 120-page guide provides a detailed analysis of the U.S. Foreign Corrupt Practices Act (FCPA) and closely examines the DOJ and SEC's approach to FCPA enforcement.
"Once again the government has suggested compliance professionals have autonomy. However, we continue to see other departments/professions insist on filtering and controlling compliance departments. If the filtering continues, we could see the government resort to implementing more regulations mandating autonomy as they have for Auditors. I would prefer that we give compliance officers autonomy without more regulations. Given the overwhelming urge to control compliance programs by others, more regulations are inevitable," said SCCE Chief Executive Officer Roy Snell.
SCCE points out that the DOJ and the SEC through the FCPA guide reinforces compliance and ethics officers need to have "appropriate authority within the organization, adequate autonomy from management, and sufficient resources to ensure that the company's compliance program is implemented effectively." The guide further notes that "Adequate autonomy generally includes direct access to an organization's governing authority, such as the board of directors and committees of the board of directors (e.g., the audit committee)."
To download the FCPA Guide, click here:
To view the FCPA Guide Fact Sheet: http://www.justice.gov/iso/opa/resources/85120121114101420662750.pdf
The Society of Corporate Compliance and Ethics (SCCE) is a non-profit professional membership organization made up of more than 3,000 industry compliance professionals, and is based in Minneapolis, Minnesota. The organization exists to champion ethical practice and compliance standards, and to provide the necessary resources for ethics and compliance professionals and others who share these principles. Visit the SCCE website at http://www.corporatecompliance.org, Tel: 888-277-4977. Society of Corporate Compliance & Ethics is located at 6500 Barrie Road, Suite 250, Minneapolis, Minnesota 55435.
SOURCE Society of Corporate Compliance and Ethics (SCCE)