Ethics and Compliance Training Remains a Challenge from the Boardroom Down
Board training is a vital aspect of effective ethics and compliance programs, but fewer organizations are providing training to their board members – in 2017, only 44 percent of organizations are providing this education, compared to 58 percent in 2016. According to the NAVEX Global 2017 Ethics & Compliance Training Benchmark Report, only 17 percent of new directors received ethics and compliance training, and only one-fourth of organizations cover cybersecurity and cyber risk with the board.
Executive buy-in continues to be a challenge, especially among organizations with reactive E&C training programs (26 percent) compared to those with basic programs (15 percent), maturing programs (nine percent) or advanced programs (eight percent). More than 40 percent of organizations surveyed rated their programs as basic (training on basic topics only) or reactive (addressing issues as they arise with no formal plan). NAVEX warns that enterprises with these types of E&C training plans are likely to face heightened scrutiny.