Underestimating Ethics and Compliance - Costs Dearly!

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December 08, 2016

Use Simulation Based Training to Proactively Educate your Staff on Compliance and Ethics Policy 

Wall Street Journal, Dec. 5th 2016 -  Deloitte’s Brazil Affiliate Fined $8 Million for False Audit Reports, Cover-Up - U.S. audit regulator PCAOB says penalty is regulator’s largest ever*

In today’s business environment global leaders recognize that an effective combination of people, processes and technology is key to creating a sustainable ethics and compliance culture. This places requirements on organizations to develop state of the art learning initiatives and proactively engage with employees from new recruits to seasoned managers, instilling world-class ethics and compliance behaviors and skills.

Business-Ethics-Cloud1.jpg There are over a dozen governmental and non-governmental regulatory bodies that oversee businesses in the U.S. as well as professional services firms. The objective of these regulatory bodies is to implement regulations or supervision that subjects institutions and firms to certain requirements, restrictions and guidelines with the aim to maintain the integrity of the global financial system.

 

Culture is a fundamental component of an effective ethics and compliance program as referenced by the U.S. Federal Sentencing Guidelines, which include expectations for organizations to promote an organizational culture that encourages ethical conduct and “compliance with the law.  Furthermore, the Organisation for Economic Co-operation and Development’s (OECD’s) Convention on Combating Bribery of Foreign Public Officials in International Business Transactions refers to the importance of a strong culture of organizational ethics. More and more, culture is moving from a lofty “soft” concept to something that should be defined, measured, and improved* Deloitte white paper on Corporate Culture.

 

Profiling Ethics and Compliance Culture:
ETU’s Simulations are validated and proven to effectively measure and change behaviors on a global scale

Ensuring employees have a complete and thorough understanding of regulations, business policies and processes is critical to protecting all organizations. Simulations are scientifically proven to effectively measure and develop the skills and behaviors that form culture. Simulations place learners in realistic, immersive and business relevant scenarios where natural behaviors emerge and correct skills can be developed and coached. EmpowerTheUser provides an award winning cloud based platform for the rapid creation and delivery of simulations for workplace training and assessment at scale. Leveraging EmpowerTheUser’s proprietary branching patterns and extensive behavioral analytic features learners make complex decisions using a combination of soft skills, procedural skills and compliance policy knowledge.

To explore how Simulations could help your Ethics and Compliance culture, contact EmpowerTheUser today 

Wall Street Journal, Dec. 5th 2016 -  Deloitte’s Brazil Affiliate Fined $8 Million for False Audit Reports, Cover-Up - U.S. audit regulator PCAOB says penalty is regulator’s largest ever

 

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