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Compliance Fridays: The Role of the Governing Board

Buckner assists organizational clients with developing, auditing and enhancing compliance programs. The firm’s “Compliance Fridays” blog series is designed to provide clients and interested readers with best practices and strategies for, as well as insights into, compliance. An effective compliance program helps an organization, and its employees, agents and officers, conduct operations and activities within the scope of the law and internal policy; ethically; and with the highest level of integrity and professionalism. Today’s post outlines the role of an organization’s governing board in a compliance program:

An organization’s governing board has an important role to fill in a comprehensive compliance program. According to attorney Thomas Fox’s article, “What Are the Essential Elements of a Corporate Compliance Program?”, a governing board “must ensure compliance policies, systems and procedures are in place and it should monitor implementation and effectiveness of the compliance program”. According to Fox, this means a board member must be “actively involved”, attend board meetings and “review, consider and evaluate information provided”. Further, board members should “inquire further when presented with questionable circumstances or potential issues”. Moreover, Fox advises a board is obligated to act when it “knows of a potential compliance issue”. Finally, according to Fox (as well as Buckner’s experience), governing boards should receive ongoing and regular education and training on the compliance program and compliance-related issues that relate to the organization’s mission, purpose and business interests.

Source: Thomas Fox, “What Are the Essential Elements of a Corporate Compliance Program?”, LexisNexis® Legal Newsroom Corporate, available at: http://www.lexisnexis.com/legalnewsroom/corporate/b/fcpa-compliance/archive/2013/05/23/what-are-the-essential-elements-of-a-corporate-compliance-program.aspx#sthash.nW77Ar1H.dpuf.

Contact attorney Michael Buckner (+1-954-941-1844; mbuckner@bucknersportslaw.com) for more information on, or to assist with auditing, a compliance program.


About Michael L. Buckner, Esquire

An attorney who provides clients with internal investigation, civil litigation, estate planning and compliance services.


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