Accounting scandals have spawned a call for a new C-level executive
By Dov Seidman
Optimize.
No C-level position is the subject of more discussion than the chief compliance officer. The role has long existed at companies that operate in heavily regulated industries such as financial services, government agencies, and health care. For other companies, the rash of recent accounting scandals, the Sarbanes-Oxley Act, and the recommendations of the U.S. Federal Sentencing Guidelines are urging CCO appointments.
The responsibilities of the position often include leading enterprise compliance efforts; ensuring compliance with internal standards and state and federal laws; managing audits and investigations into regulatory and compliance issues; and responding to requests for information from regulatory bodies.
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