The findings of the second annual PwC and Compliance Week 2012 State of Compliance Study indicate that the role of the compliance department is evolving into something akin to that of a primary care doctor: the physician who sets broad goals for health, monitors overall vital signs and - most importantly - coordinates more specific medical needs with various specialists.
Sally Bernstein and Bobby Kipp, co-leaders of PwC's Ethics and Compliance Practice sat down with Matt Kelly, the Editor-in-Chief of Compliance Week, to compare notes and share thoughts on what we learned from this year's study - and what the findings may mean for the future of the compliance function.
The Challenges Ahead
The findings suggest several practical obstacles remain before compliance officers can move forward toward a fully integrated, proactive function. Those challenges include fragmented IT systems, tight budgets, shifting and growing regulatory requirements, and the ongoing challenge of proving that the compliance program is effective.
For a Deeper Look - Take the Survey Now!
While the executive summary presents data collected as of April, 2012, it's only the beginning of the data available to companies who participate in the study. The 2012 survey remains open and available for you to participate in. It includes 35 questions and collects data that provides a rich look at the state of compliance today. We encourage you to invest 30 minutes now and receive a complimentary benchmarking report that compares your own answers with those of your peers. Click here to take the survey now!