Navigation Links
Legal and Ethical Violations Risks Seen Rising, But Not Resources to Control the Risk
Date:1/6/2009

MINNEAPOLIS, Jan. 6 /PRNewswire-USNewswire/ -- A survey recently conducted by the Society of Corporate Compliance and Ethics (SCCE) and the Health Care Compliance Association (HCCA) reveals that the declining economy may be increasing the risk of legal and ethics violations in business. In addition, this increased risk is occurring at a time when budgets to manage those risks are expected to at best hold steady, if not decline.

The survey, based on an online questionnaire completed by more than 600 compliance and business ethics professionals, showed that 85% feel that the current economy greatly or somewhat increases the risk of compliance and ethics failures. So pervasive is the perception that only 1% took the contrarian view and felt that the legal and ethics risks might decline in this period, and not one respondent felt that the risk of compliance and ethics failures had greatly decreased.

The fear of increased risk was greatest among those outside of the health care industry, where 48% felt the risks were increasing greatly, compared to 30% for health care compliance professionals. According to Roy Snell, the CEO of both SCCE and HCCA, "The difference is to be expected since health care tends to be less impacted by changes in the economy than business as a whole."

The Society of Corporate Compliance and Ethics and Health Care Compliance Association are non-profit membership organizations serving ethics and compliance professionals across industry and in approximately 25 countries.

Warning of Future Corporate Scandals

In what may be a warning sign of future corporate scandals, despite the increase in perceived risk, survey respondents were far more likely to believe that their budgets and staffing would decline rather than increase. Forty-nine percent felt their budget would stay about the same, and 69% thought the same of staffing. But 36% felt their budgets were likely to decline and 21% are anticipating reductions in staffing. This compares to just 16% who expect an increase in budget and 11% who anticipate a staffing increase.

In terms of their own job security, 22% felt that their job was somewhat or much more at risk than the jobs of their peers in their organizations, and 44% were "not at all" concerned about losing their job as a result of the current economy.

"There's good and bad news here," observed Snell. "We're finding that companies are increasingly seeing compliance and ethics as an integral part of their business and not a luxury to be discarded during an economic downturn. But, at the same time, we're seeing stagnant budgets or potential declines in resources at a time of increased risk for failures. That's creating a gap that could prove to be a dangerous chasm for business to cross.

"A very real concern for compliance professionals is that some may interpret or blame future failures on poor performance of compliance and ethics programs, rather than on level-funding or decreased funding at a time of need. There needs to be a real understanding of the risks created in these uncertain times and what it will take to meet those risks," added Snell.

The complete survey can be accessed at www.corporatecompliance.org or www.hcca-info.org.

Contact SCCE and HCCA

The SCCE and the HCCA are located at 6500 Barrie Road, Suite 250, Minneapolis, MN. Visit the SCCE Web site at http://www.corporatecompliance.org or call toll-free 888 277 4977 or +1 952 933 4977. Visit the HCCA Web site at http://www.hcca-info.org or call toll-free 888 580 8373 or +1 952 988 0141.


'/>"/>
SOURCE Society of Corporate Compliance and Ethics
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Silverman, McDonald & Friedman Opens New Office in New Castle to Serve Legal Needs of Delaware Families
2. The Doctors Company Launches Southeast Legal Summit to Provide Industry's Best Claims Defense for Physicians
3. LegalView Updates its Baxter Heparin Information Portal with Conflicting News Reports on the Possible Dangers
4. The Doctors Company Launches Southeast Legal Summit to Provide Industry's Best Claims Defense for Physicians
5. LegalView Reports That Skin Cancer Drug May Offer Treatment to Mesothelioma Patients
6. United American Healthcare Corporation Issues Statement on Legal Motion Regarding Stock Repurchase Program
7. LegalView Updates Brain Injury Site with Information on TBI Disabled Soldier's Family
8. Doctors questions about end-of-life legalities may result in patient pain
9. LegalView Reports Record Numbers of Drug Reactions in U.S., Partially Caused by Heparin
10. LegalView Informs Chantix Patients of Risk of Seizures Leading to Traffic Accidents
11. LegalView Reports on Rare Traumatic Brain Injury Condition That Could Cause Complete Paralysis of A Victim
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... Angeles (PRWEB) , ... January 19, 2017 , ... Next ... Act will be repealed by Congressional political games that circumvent health needs of over ... Stand Rally” capture the human anxieties and needs government public servants were suppose to ...
(Date:1/19/2017)... ... 2017 , ... WhoHaha , a digital media company dedicated to creating ... to produce a three-part video series that uses humor to highlight ways to improve ... of AHA’s Healthy For Good™ movement, which is designed to inspire all Americans to ...
(Date:1/19/2017)... ... January 19, 2017 , ... Dr. ... Board of Dermatology and fellowship trained Mohs and cosmetic surgeon. After extensive dermatology ... Dr. Li completed his internship in internal medicine at the Emory University and ...
(Date:1/19/2017)... ... January 19, 2017 , ... ... treatments for patients with sleep apnea and TMJ disorders. These conditions are quite ... health. Dr. Rassouli provides personalized care to reduce the risk of these consequences ...
(Date:1/19/2017)... ... January 19, 2017 , ... ... and financial planning services to communities throughout eastern Georgia, is embarking on a ... disease. , Heart disease kills more Americans every year than anything else, yet ...
Breaking Medicine News(10 mins):
(Date:1/19/2017)... This report on the opioid induced constipation ... the global market. Large number of chronic pain sufferers ... is a major side effect of consumption of opioid ... therapy has been prescribed to treat opioid induced constipation. ... and growing awareness about the therapy are the major ...
(Date:1/19/2017)... NEW YORK , January 19, 2017 ... global market for cryotherapy is set to witness a CAGR of ... North America will continue to be the leading ... ... Suppliers are emphasizing on ensuring affordable and adequate supply ...
(Date:1/19/2017)... 19, 2017  Sensus Healthcare, Inc. (NASDAQ: ... in the treatment of non-melanoma skin cancers and ... radiation therapy, today announced that it will report ... results on Thursday, February 2, 2017 after the market ... conference call with the investment community on Thursday, February ...
Breaking Medicine Technology: