Reporting systems strengthen trust

Reporting systems strengthen trust in a company's compliance management system, regardless of its size. This was one result of the new study "Compliance Essentials" of the Konstanz Institute for Corporate Governance (KICG) in cooperation with Taylor Wessing. More than 81 percent of all interviewed experts from government agencies, companies, lawfirms, non-profit organizations, universities and consulting companies said that, irrespective of the size of a company, they expect a process of reporting misconduct to be defined and communicated to employees.

Also in medium-sized companies, employees and external stakeholders see the reporting system as a strong indication that companies are adressing internal misconduct. The seriousness of these compliance efforts is measured by the design of the reporting system. The technical protection of the potential reporter shows how much a company is actually interested in the clarification of the reported incident.

Read the full study: Compliance Essentials