LRN - Risk management Survey - Ethics Resource Center

detailed resultsthree departments: compliance, legal and internal audit. Legal’s involvement likelyreflects the fact that ethics and compliance are so often a part of the legal function.Departments involved in ethics and compliance Responses % Totalrisk assessmentLegal and compliance 85 60%Legal and internal audit 79 56%Compliance and internal audit 67 47%Compliance and legal and internal audit 59 42%Totals among companies that assess ethics 142 100%and compliance risk4. How often do you conduct your ethics and compliancerisk assessments?Frequency of conducting compliance risks assessments46%19%15%9%6%4%AnnuallyPeriodic,part of auditNo formal orset scheduleMore thanonce a yearLess thanonce a yearDon’t knowA combined total of more than 50 percent of companies surveyed conducted ethics andcompliance risk assessments either annually (46 percent) or more than once a year (9 percent).Only 6 percent performed the assessment less than once a year, and 15 percent followed no setschedule at all. A further 19 percent tied the evaluation process to financial auditing, which mayoccur annually or less frequently, depending on the status of the company (public vs. private)and applicable accounting standards.Performing an annual risk assessment is the most common practice.Companies appear to practice risk assessments on a regular, consistent basis.LRN | ETHICS AND COMPLIANCE RISK MANAGEMENT PRACTICES REPORT | 10