Abstract and Keywords
This chapter discusses the compliance function, a form of internalized law enforcement employed by corporations and other complex organizations to ensure that employees and others associated with the firm do not violate applicable rules, regulations or norms. It first examines compliance within a general theory of enforcement. It considers the concept of internal control, the development of the compliance function and its distribution among control personnel, and compliance programs, policies, and contracts within an organization. It then analyzes the oversight obligations of the board of directors and the management team including the chief executive officer, the chief financial officer, the chief compliance officer, the chief legal officer, and the chief risk officer. It also outlines the elements of a robust compliance program and concludes by considering internal investigations, whistleblowers, criminal enforcement, compliance outside the firm, and business ethics beyond formal compliance.
Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.
If you have purchased a print title that contains an access token, please see the token for information about how to register your code.