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20 Questions About Board Compliance Committees

Corporate Compliance Insights, an online knowledge sharing forum intended to encourage interaction amongst members of the corporate compliance community, has published a short piece outlining some questions boards should ask themselves about their compliance committees. According to the article:

The questions are not intended to be an exact checklist, but rather a way to provide insight and stimulate discussion on the topic of compliance. The questions provide directors with a basis for critically assessing the answers they get and digging deeper as necessary.

The comments summarize current thinking on the issues and the practices of leading organizations. Although the questions apply to most medium to large organizations, the answers will vary according to the size, complexity and sophistication of each individual organization.

The questions cover the following aspects of compliance committees:

  • Understanding the Role and Value of the Compliance Committee
  • Building an Effective Compliance Committee
  • Board Directed Issues
  • Enhancing the Board's Performance Effectiveness
  • Merging Roles of the Compliance Committees

These 20 questions may help boards, including mutual fund boards, better understand and assess the role, performance, and scope of duties of their compliance committees.  

The full text of the article is available at: