In the current business climate the impact of the volume and nature of regulatory change and the regulatory risk arising from this is a significant business risk for regulated firms and regulators alike. As a consequence, management of this risk is increasingly high on the board agenda of regulated firms, with those business functions whose activities support this, such as Compliance, facing increasing levels of challenge in their efforts to be effective. The Changing Face of Compliance addresses core aspects of this challenge, considering the relationship between regulation and compliance and key influences on both, offering insight into the effectiveness of current approaches and addressing practical compliance challenges. Sharon Ward explains how the role of Compliance might be strengthened and those who work within it further enabled to support the current focus on improving standards in business, offering recommendations for enhancing this role. The text includes a mix of hands-on advice, examples and research based on the experiences of practitioners, educators and regulators drawn from across a wide range of jurisdictions and sectors. This is a thoughtful and timely book, whether you are concerned about the growing and changing implications of regulatory risk; the benefit of leveraging additional value from your Compliance function or your own Compliance role; or ways of transforming and sustaining the function to ensure its continued relevance to the business.
’Sharon Ward has produced a defining book for the function and role of the Compliance function in the twenty-first century. Since its development from an internal control department to a more influential advisory role, there has been a tumultuous process of scandal, business misconduct and regulatory response that is still ongoing. The debate as to the nature of its activities, influence and strategic value within organisations bears the hallmarks of the birth of a profession. Her book is as timely as it is instructive; it is an invaluable read to accompany any effort to understand the value and role of the compliance function, and a must read for practitioners and legislators alike.’ Anthony Smith-Meyer, Editor-in-Chief, The Journal of Business Compliance and Adjunct Professor of International Management and Organisational Behaviour at Miami University, MUDEC Campus, Luxembourg