HOW
TO ESTABLISH AN EFFECTIVE COMPLIANCE OFFICE FOR SARBANES-OXLEY AND OTHER LAWS
One Day Seminar - MASP -777
Boston: April 29, 2006 - New York: May 15, 2006
BACKGROUND
Now that the first year Sarbanes-Oxley compliance has been met by large companies, they must begin the vital task of organizing for ongoing and sustainable compliance to provide strong leadership and enforcement of compliance across all regulations that impact their company.
The first year
Sarbanes-Oxley effort was handled primarily on a project basis and focused only on meeting
the initial deadline. The compliance to the
Sarbanes-Oxley Act was conducted in a project-oriented fashion with a specific deadline in
mind.
Business
organizations must now address the process
for ongoing and sustainable compliance not only to
Sarbanes-Oxley but to many other regulations, such as Gramm-Gilb-Bliley (GLB), HIPPA,
Patriot Act, and even international regulations, such as Basel II for international
financial firms.
Recent information of compliance organization in companies indicates that:
Only ten percent of organizations have some form of a compliance Office.
Many of these may be illstructured to meet the functional obligations assigned to it.
Forty percent of companies are seriously considering establishing the Compliance Office
The remaining companies are watching developments in this challenging area.
The Board and the CEO want one individual that they can resort to for enterprise-wide compliance issues as opposed to dealing with multiple fragmented functions that deal with compliance silos.
Thus, it is only a matter of time before the CEO and Board will consider instituting some form of corporate compliance office.
Handling
compliance on a group-by-group and on a project-by-project basis represents a highly
constrained and ineffective approach. Since compliance to Sarbanes-Oxley and other laws is
an ongoing affair, organizations need to establish an organizational mechanism to ensure
ongoing compliance that will also help reduce the costs and improve corporate governance,
since compliance and governance are unavoidably interrelated.
This requires that companies establish a formal compliance function or office.
The consensus of experts is that organizations must institute an official Compliance Office (CO) headed by a C-level Chief Compliance Officer (CCO) to fulfil the strategic, directional and coordination role that is now lacking and that modern complex compliance requires. This senior officer should have full responsibility for spearheading and enforcing enterprise-wide compliance and ethical standards to meet the major laws that impact the enterprise. He or she might report to the CEO and have unfettered access to the Board of Directors.
This practical
seminar provides CEOs, Board members, the legal and HR divisions, consultants and
present compliance officers with practical guidelines on how to establish an effective
enterprise-wide Compliance Office
The seminar is also intended to assist Auditors (internal and external), Chief Security Officers (CSOs), risk managers, Chief Information Officers (CIOs), staff and line executives and all affected personnel with a sound understanding of the new strategic role that the CCO will play and how best to collaborate with the Compliance Office for optimal compliance development and deployment.
WHAT YOU WILL GAIN FROM THE SEMINAR
This one-of-a-kind seminar will equip you with:
WHO
SHOULD ATTEND
The following positions will directly benefit from this seminar:
- CEOs - Audit Committee and Members of the Board - Risk Management Groups
- CFOs, Controllers - CIO, IT Executives and Managers
- Compliance Officers - Corporate Governance specialists
- CSO (Chief Security Officer), Security Professionals - Legal Counsel - Internal and external consultants
- Internal, External Auditors and consultants - Chief Security Officers
- Managers charged with developing compliance programs - Line Operational Managers who deploy compliance
SEMINAR OUTLINE - See bottom of page
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REGISTRATION
FORM
____Please register me to attend your workshop: "How to Establish and Effective Compliance Office for Sarbanes-Oxley and Other Laws".
LOCATION: ___
Name_____________________________Position__________Dept________________
Address_____________________________City__________ST______ZIP______
Tel:______________Email:________________Fax:____________
Tuition: $825 per participant - A ten percent discount applies for third and additional participant.
___Payment is
enclosed ____Invoice
my Organization
Please repeat this
form for each participant
Participants will receive a copy of the practitioner's manual: "Establishing a Compliance Office for Sarbanes-Oxley, Other Laws and Corporate Governance" (a $187 value).
NOTE: This seminar can be presented in-house to a small group of executives in a cost-effective manner.
The seminar can be reduced in length to accommodate the busy schedule of senior executives and can also be customized
to company specific needs.
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COURSE OUTLINE______________________________________________________________________________________________________________
1. | Your organization needs a formal Compliance Office (CO) to achieve effective "ongoing and sustainable compliance" to a cadre of laws and regulations (Sarbanes-Oxley and Other laws). |
2. | Why your company should have a strategic, C-level Compliance Office headed by Chief Compliance Officer (CCO) |
3. | Current compliance organizational deficiencies lead to defective and scattered compliance efforts with a silo, a fragmented approach and wasteful duplication of effort while creating compliance gaps. |
4. | Lack of a "strategic level" Compliance Function which the Board and the CEO can resort to and rely upon for a single integrated and enterprise-wide view of compliance - Need for internal coordination and external agency liaison by a CO. |
5. | Benefits from a Compliance Function - Selling the CO concept - The CO as a key avenue for achieving ROI on compliance effort investment while improving corporate governance. |
6. | A "broad" functional charter for
the Compliance Office
|
7. | Various alternative approaches for setting up the Corporate Compliance Office - Pros and cons of each alternative and recommended functional organizational and reporting structure. |
8. | Key "success factors" for achieving an effective Compliance Office. |
9. | Guidelines to implement the Compliance Function:- Detailed job descriptions; - Skill set for the CCO and for senior and junior Compliance Office Staff; - Skill set for the CCO and the Compliance Office staff; - Setting up a CO that is not constrained to the traditional and narrow role of monitoring, policing documentation and ethical rule violations but considers the entire array of modern compliance issues. |
10. | Compensation for the CCO and the CO staff. |
11. | Workshop to draft a model of a Compliance Office that suits the compliance landscape and environment of participants. |
12. | Discussions on issues of current participant's interest. |