ECI Report Finds Use of Corporate Monitors is on the Rise

By ECI Connector posted May 11,2017 14:15

  
NEWS RELEASE
For Immediate Release
For more information, contact
Rachael Gass, 571-480-4405,
Rachael@ethics.org

ARLINGTON, VA, May 11, 2017The Ethics & Compliance Initiative’s (ECI) Monitor Benchmarking Group, with the support of Affiliated Monitors, today released the latest in a series of best practices papers designed to provide ethics and compliance professionals insight on important topics. This new report indicates that the use of monitors, by public and private sector organizations, is on the rise as a preferred risk assessment tool.

This guide, authored by leading consultants and chief ethics and compliance officers from a variety of industries, includes information related to selecting a monitor, contracting for monitoring services and completing a monitoring engagement.  Simply stated, the report is a practical guide into working with voluntary or court appointed monitors. The report provides valuable tips for managing the monitoring engagement in a way that establishes and sustains trust between parties, maximizing value and addressing issues related to the monitorship. The report further details what to consider when selecting a monitor, and provides direction through the full monitor engagement lifecycle including the transitioning out of a non-mandatory and mandatory monitoring relationship.
 
In their findings, the authors recognize that a weak ethical culture can undermine even the most sophisticated system and that culture-based assessment from monitors can help provide a means for addressing risk not considered by traditional ERM or auditing techniques. By hiring a monitor, a company can help ensure the effectiveness of its compliance risk management efforts and help enhance an organization’s overall ethical culture.

To view the executive summary visit: ethics.org/research/monitors-report

This report is made possible through financial support from Affiliated Monitors.

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