Perspectives of Chief Ethics and Compliance Officers on the Detection and Prevention of Corporate Misdeeds: What the Policy Community Should Know

By Michael D. Greenberg | Go to book overview

3. CORPORATE GOVERNANCE, COMPLIANCE, AND THE IMPACT
OF REGULATION –
THE CEO PERSPECTIVE AND ROLE

OVERVIEW
Participants in this session discussed a broad range of issues connected with corporate governance, compliance, and regulation. The session opened with some reflections on the regulation of corporate governance and compliance, on the impact of SOX, and on the tension between stronger regulatory controls for corporations and the performance pressures for management to adopt a short-sighted, “meet-the-numbers” operating posture. Some but not all of the discussions touched on the central role of CECOs, as drivers of the corporate compliance function and as potential agents for boards of directors in carrying out the governance responsibilities of the latter. The reality that many corporate compliance programs fall short in achieving their aims was a major theme of conversation, with a serial focus on several of the different reasons why this appears to be so. Session participants generally agreed on several points:
CECOs have a very different role and perspective in their companies from that of chief counsel.
CECOs have the potential to play a pivotal role in companies, but their effectiveness depends on independence, seniority, “seat at the table,” and empowerment.
Directors have significant responsibility for compliance oversight, but many are relatively unprepared, inexperienced, and/or ineffective in that role.
Legal requirements and regulatory mechanisms can be important elements in driving corporate governance and compliance efforts, but mandates can sometimes also have perverse effects.
Ethical culture is a prime responsibility for CECOs and a major factor in achieving good organizational compliance and ethics, but it is difficult to establish by external mandate.

CECOS PLAY A DIFFERENT ROLE FROM THAT OF CHIEF COUNSEL

Although CECOs often come from legal backgrounds and have sometimes previously held the office of corporate legal counsel, discussion underlined the fact that the CEO role is very different from the internal counsel role within most companies. Broadly speaking, legal counsel within a company operates to identify and reduce liability risks, across a spectrum of corporate operations, support functions, regulatory areas, etc. Moreover, legal counsel tends to be oriented toward parsing and understanding the technical requirements of different areas of

-11-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
Perspectives of Chief Ethics and Compliance Officers on the Detection and Prevention of Corporate Misdeeds: What the Policy Community Should Know
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 46

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.