These Compliance and Ethics Policies and procedures must exist - ANSWER Non-
Retaliation, Record Management, Conflict of Interest, Privacy, Security, and Confidentiality
What are Compliance Officers required to do? - ANSWER Maintain Compliance and
Ethics polices and procedures
When making decisions, C.O. need to.... - ANSWER Consult with appropriate subject
matter resources, HR, legal, finance
A main goal of compliance program: - ANSWER Assure Alignment between
organization's mission, vision, values, and the code of conduct
A main goal of compliance program is... - ANSWER to assure alignment of the
compliance and ethics strategic plan is consistent with overall business objectives.
A requirement for compliance program is... - ANSWER to maintain a code of conduct
C.O. needs to ensure what? - ANSWER Ensure organizational value statements reflect
a committment to a culture of integrity
What else does a CO ensure? - ANSWER The policies and procedures address
regulatory and legal requirements.
1
,Policies need to address what? - ANSWER Interactions/relationships with third-parties,
like vendors, business partners, and competitors
What else is required in relation to third-parties? - ANSWER That contractual
agreements include compliance and ethic standards.
What documentation is required of a compliance plan? - ANSWER That the program is
documented, like a compliance manual/outlined plan.
What else will a compliance program document in regards to risks? - ANSWER That
policies and procedures around specific identified risk area are maintained.
What will a compliance program document in regards to governance policies? -
ANSWER That the governance policies for the compliance and ethics program are
maintained.
Who does a Compliance Officer report to? - ANSWER A board of directors, or audit
committee
What does a compliance officer report and to whom? - ANSWER Reports compliance
and ethics activity to the internal governing body, like a board of directors/audit committee
Who else does a compliance officer report to? - ANSWER Gives reports of compliance
and ethics activity to the senior business leader, like the CEO or CFO
What does the CO coordinate inside the organization? - ANSWER Coordinates the
operational aspects of the compliance program with management, like oversight committee
and senior managment.
Benchmarking - ANSWER Collaborate with others internally and externally to institute
best practices: what are others doing in their program?
2
, What is the CO responsible for in regards to goals of oversight committee? -
ANSWER To ensure the goals and objectives of the oversight committee are achieved.
What knowledge is needed? - ANSWER Maintain knowledge of relevant laws and
regulations
How is knowledge of relevant laws used? - ANSWER Relevant laws and regulations are
applied to the needs of the organization.
CO assures what about the compliance program? - ANSWER That it is credible and run
with integrity.
What must a CO recognize? - ANSWER Recognize the need for outside expertise.
What does the governing board need to understand? - ANSWER Its responsibilities
related to compliance and ethics program and culture.
What does CO need to do in regards to Legal Counsel? - ANSWER Make sure the role
of counsel is defined.
What does the CO manage? - ANSWER Manages resources for the compliance and
ethics program, like finance and personnel resources.
What should the CO do in regards to the business? - ANSWER The CO integrates the
compliance and ethics program into the business.
Annually the CO needs to.... - ANSWER Develop an Annual compliance and ethics work
plan.
3
Retaliation, Record Management, Conflict of Interest, Privacy, Security, and Confidentiality
What are Compliance Officers required to do? - ANSWER Maintain Compliance and
Ethics polices and procedures
When making decisions, C.O. need to.... - ANSWER Consult with appropriate subject
matter resources, HR, legal, finance
A main goal of compliance program: - ANSWER Assure Alignment between
organization's mission, vision, values, and the code of conduct
A main goal of compliance program is... - ANSWER to assure alignment of the
compliance and ethics strategic plan is consistent with overall business objectives.
A requirement for compliance program is... - ANSWER to maintain a code of conduct
C.O. needs to ensure what? - ANSWER Ensure organizational value statements reflect
a committment to a culture of integrity
What else does a CO ensure? - ANSWER The policies and procedures address
regulatory and legal requirements.
1
,Policies need to address what? - ANSWER Interactions/relationships with third-parties,
like vendors, business partners, and competitors
What else is required in relation to third-parties? - ANSWER That contractual
agreements include compliance and ethic standards.
What documentation is required of a compliance plan? - ANSWER That the program is
documented, like a compliance manual/outlined plan.
What else will a compliance program document in regards to risks? - ANSWER That
policies and procedures around specific identified risk area are maintained.
What will a compliance program document in regards to governance policies? -
ANSWER That the governance policies for the compliance and ethics program are
maintained.
Who does a Compliance Officer report to? - ANSWER A board of directors, or audit
committee
What does a compliance officer report and to whom? - ANSWER Reports compliance
and ethics activity to the internal governing body, like a board of directors/audit committee
Who else does a compliance officer report to? - ANSWER Gives reports of compliance
and ethics activity to the senior business leader, like the CEO or CFO
What does the CO coordinate inside the organization? - ANSWER Coordinates the
operational aspects of the compliance program with management, like oversight committee
and senior managment.
Benchmarking - ANSWER Collaborate with others internally and externally to institute
best practices: what are others doing in their program?
2
, What is the CO responsible for in regards to goals of oversight committee? -
ANSWER To ensure the goals and objectives of the oversight committee are achieved.
What knowledge is needed? - ANSWER Maintain knowledge of relevant laws and
regulations
How is knowledge of relevant laws used? - ANSWER Relevant laws and regulations are
applied to the needs of the organization.
CO assures what about the compliance program? - ANSWER That it is credible and run
with integrity.
What must a CO recognize? - ANSWER Recognize the need for outside expertise.
What does the governing board need to understand? - ANSWER Its responsibilities
related to compliance and ethics program and culture.
What does CO need to do in regards to Legal Counsel? - ANSWER Make sure the role
of counsel is defined.
What does the CO manage? - ANSWER Manages resources for the compliance and
ethics program, like finance and personnel resources.
What should the CO do in regards to the business? - ANSWER The CO integrates the
compliance and ethics program into the business.
Annually the CO needs to.... - ANSWER Develop an Annual compliance and ethics work
plan.
3
