The conclusions from the recent Mitratech survey on the in-house legal department will further the long-standing controversy on the proper roles of the corporation’s legal and compliance functions. This is particularly the case to the extent that the survey conclusions run counter to the perspective of those who argue for a clear separation between the two roles—and in particular for total independence of the compliance officer. Yet, as recent developments in the corporate world suggest, the failure to resolve this controversy can have disastrous risk-management implications for an organization. It is ultimately the governing board’s obligation to assure that clarity and effectiveness are brought to the general counsel/compliance officer roles and relationship.
The Mitratech survey, released on Sept. 9, focused on how corporate legal departments are responding to increased organizational compliance challenges and business risks. The market-wide survey included respondents from a broad cross-section of industry sectors, including financial services, energy and utilities, technology, manufacturing, insurance, health care, biotechnology, pharmaceuticals, apparel, automotive, consumer goods, nonprofit and retail. According to the survey, the median size of the respondents was 6,000 employees.
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