The Uncertain Professional Status of Compliance

Fanto, James A.

doi:10.1007/978-3-030-14511-8_3

Cited by 2 publications

(2 citation statements)

References 4 publications

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“…Furthermore, the increased demand for experienced people in the field of compliance stems from the increased regulation and heavy fines for regulatory violations which has led to making the role of CO more important and prestigious than ever before. Fanto () outlines in detail the uncertain professional status of compliance and advocated that the debate is likely to continue as there is an increased discussion and interest by academics and professionals.…”

Section: Literature Reviewmentioning

confidence: 99%

Contextualizing compliance officers and their state of practice

Krambia‐Kapardis

Stylianou

Demetriou

2019

Business and Society Review

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The compliance officers' (CO) profession has been evolving over the last few decades. The expectations placed upon the individuals holding such a position vary across jurisdictions, but they are all expected to ensure employees and management of the business entity comply with the law. Given the limited research on CO in Europe, and the increasing public interest in this profession, the current authors have carried out a survey in Cyprus in an effort to map out and contextualize the CO' profession. The findings illustrate CO's academic and professional qualifications, their awareness of their legal liability, the level of knowledge and job performance of their duties as prescribed by law, as well as gaps in the performance of duties as expected by management, boards, and regulators. The policy implications derived from the study suggest coherence and synergies to be found through common exam and postgraduate qualification in the field of financial compliance.

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Section: Literature Reviewmentioning

confidence: 99%

Contextualizing compliance officers and their state of practice

Krambia‐Kapardis

Stylianou

Demetriou

2019

Business and Society Review

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“…11 A great step was made in August 2023, when the Government of the Republic of Serbia approved the Draft Law on the Management of Enterprises Owned by the Republic of Serbia, which stipulates that every company of capital must incorporate the compliance function. 12 Even before this Draft, the compliance function was specifically prescribed for some state-owned enterprises, 13 such as electric utility power company Javno preduzeće Elektroprivreda Srbije and the largest infrastructure and logistic business system in the country -Javno preduzeće Pošta Srbije. 14 It is only a matter of time when and how compliance function will become equally important in all areas of economy in Serbia, since operating in accordance with the law is a priority of every company.…”

Section:  Introductionmentioning

confidence: 99%

Compliance officers in Serbia: Employees or interim managers?

Tošić,

Misailović

2023

Pravni zapisi

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The first part of the paper analyzes the principle of legality in business and the basic features of the compliance function. Taking into account that the principle of legality in business is one of the core pillars for achieving good corporate governance, having a person who will perform the compliance function is of great significance. The legal position of the compliance officer may be differently regulated, whether as an employee or an outsourced expert. The second part of the paper deals with these two options taking into account the standing practice in the United Kingdom and Germany, where the compliance function has a long tradition. These examples may be challenging for Serbia to follow, since its compliance function is at the very beginning, although having a compliance officer (team) as an employee should be the ultimate objective. In the meantime, the authors propose for Serbian companies to hire compliance officers as interim managers as a solution.

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The Uncertain Professional Status of Compliance

Cited by 2 publications

References 4 publications

Contextualizing compliance officers and their state of practice

Contextualizing compliance officers and their state of practice

Compliance officers in Serbia: Employees or interim managers?

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