PwC and Compliance Week Launch Second Annual State of Compliance: 2012 Study

NEW YORK, Feb. 27, 2012 /PRNewswire/ -- PwC US and Compliance Week are conducting their second annual State of Compliance study, a joint effort that collects benchmarking data about leading issues in the design, implementation and management of corporate ethics and compliance programs. The results of the survey will be announced at the Compliance Week 2012 Conference for corporate financial, legal, risk, audit and compliance officers in Washington, DC on June 4-6, 2012.

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The study resulting from the survey allows companies to easily benchmark attributes of their ethics and compliance program with those of other participating companies. Last year, more than 130 companies participated in the survey, creating a significant and diverse population of data on current practices in the profession. This year, we will be including a comparison with the 2011 data to capture trends in the development of compliance risk management programs.

"We believe the cumulative annual results from this research will help enable companies to understand and apply leading practices to support their ethics and compliance programs," said Bobby Kipp, PwC Governance, Risk and Compliance services partner.  "One of the biggest challenges survey respondents faced last year was in measuring the effectiveness of their compliance programs.  Amongst other things, this year we will be seeking to delve deeper into the specifics of how program effectiveness is measured."

Some of the topics senior compliance executives will be surveyed on this year include:

• Compliance Department Scope and Effectiveness – In addition to benchmarking compliance functions' responsibilities and interactions with other functions, the study will explore more specifically how effectiveness is measured: how often and using what metrics. Data will also be collected on use of social media in supporting the ethics and compliance program.
• Use of Technology in Governance, Risk, and Compliance (GRC) – The study will explore what tools and technologies are currently being used to support initiatives and how satisfied companies are with the technologies they use.
• Staffing, Budget and Resources – The study will collect data on budget levels, staff size and coordination with other departments and business units.
• Leadership, Reporting Relationships and Organizational Structure – The study will probe deeply into the organizational structures and reporting relationships of compliance and ethics programs.  

"Companies are still in dire need of this type of data to help them understand their own compliance programs in comparison to their peers," said Matt Kelly, Compliance Week's editor and publisher. "In our inaugural year, we were able to collect data from a wide range of companies and we have come together again with PwC to help provide further insight into the most significant attributes of compliance programs."

Participating involves a short survey that will take no more than 30 minutes.  PwC will provide each participating company with a complimentary benchmarking report that compares the company's specific survey responses with those of other participating companies.  Initial survey results and analysis will be based on data reported on or before March 23. To access the survey, go to http://globalbestpractices.pwc.com/compliance2012.

The results of the survey will first be announced at Compliance Week 2012 Conference. Results and analysis will be published and distributed with Compliance Week's July print edition.

For additional details or to register for the Compliance Week 2012 Conference, please visit http://conference.complianceweek.com. Members of the media are welcome to apply for a free press registration.

To learn more about the Study, please visit www.pwc.com/us/stateofcompliance2012.

About the State of Compliance: 2012 Study

The study, titled The State of Compliance: 2012, is based on a survey developed by PwC, Compliance Week and an advisory committee comprised of senior compliance executives representing a cross-section of leading U.S. companies. The study will provide a "snapshot" of how leading U.S. companies organize, administer, scope and staff the compliance function.

About Compliance Week

Compliance Week, published by Haymarket Media Inc., is an information service on corporate governance, risk and compliance that features a weekly electronic newsletter, a monthly print magazine, proprietary databases, industry-leading events, and a variety of interactive features and forums. It reaches more than 26,000 financial, legal, audit, risk and compliance executives, and is based in Boston, Mass.

About the PwC Network
PwC firms help organizations and individuals create the value they're looking for. We're a network of firms in 158 countries with close to 169,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com.

© 2012 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved. PwC refers to the US member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.

SOURCE PwC US