Why Does My Business Need a Chief Compliance Officer?
In 2002, the Sarbanes-Oxley Act was put into effect, which completely transformed the auditing process and roles of various entities with publicly-held companies. The Act does not affect privately held companies. When accounting scandals involving companies like Enron and WorldCom took place a while back, investors were shaken as they lost billions of dollars. The public lost trust in the market. So, the Sarbanes-Oxley Act was created to ensure better and more transparent corporate governance amongst publicly held companies. This article will discuss the ways in which companies must not have a Chief Compliance Officer (CCO) and how they can achieve compliance with this law through regulatory compliance software and compliance products. A CCO reports to the CEO and leading officials in a public corporation. The brukl compliance surrey leader makes reports about the company's compliance and ethics, and also provides advising to the Board and other crucial people involved in corpo...