Andreisová, P. D. (2016). Building and maintaining an effective compliance program.

Question 1

What is the core purpose of a compliance program?

Answer 1

To go beyond legal compliance by fostering a culture of integrity, ethics, and accountability that prevents misconduct and promotes responsible behavior.

Question 2

Why is leadership essential in compliance?

Answer 2

Because the “tone from the top” influences the entire organization; leadership must actively support, model, and prioritize compliance efforts.

Question 3

What sparked the evolution of modern compliance programs?

Answer 3

Corporate scandals and regulatory responses (e.g., FCPA, Sarbanes-Oxley, FSGO) drove the need for formal, structured compliance systems.

Question 4

What are the risks of weak or fake compliance?

Answer 4

Fake compliance (e.g. paper codes with no enforcement) or underfunded programs can mislead stakeholders and increase legal and reputational risks.

Question 5

What are the key elements of an effective compliance program?

Answer 5

• Qualified compliance officer
• Training and communication
• Policies and code of conduct
• Monitoring and auditing
• Incentives and disciplinary action
• Risk assessment and updates

Question 6

What role do whistleblower systems play in compliance?

Answer 6

They enable safe reporting of misconduct, support early detection, and are key to building trust and organizational transparency.

Question 7

Why must compliance programs be continuously improved?

Answer 7

Risks evolve — so must compliance. Programs should be treated as living systems, regularly updated based on internal feedback and external changes.