Summary: <a href="https://www.complianceandethics.org/wp-content/uploads/2015/02/turteltaub-adam-200x200.jpg"></a>By <a href="mailto:adam.turteltaub@corporatecompliance.org">Adam Turteltaub</a><br> <br> There has been, to say the least, a great deal of controversy over the US Department of Justice’s plan to require compliance officers to provide a certification as a part of corporate resolutions. Many fear that it could lead to significant legal risk for compliance teams and fewer individuals willing to assume compliance roles.<br> <br> <a href="https://stoneturn.com/who-we-are/our-people/jonny-frank/">Jonny Frank</a>, Partner, and <a href="https://www.linkedin.com/in/kathleenrosenolan/">Kat Nolan</a>, Senior Consultant, at <a href="http://www.stoneturn.com">StoneTurn</a> are not concerned. They point out that in the 20+ years since Sarbanes-Oxley, despite the predictions, there have not been the lawsuits and empty CFO and CEO chairs that some feared.<br> <br> Instead, they believe, these certifications could lead to increased power and prestige for chief compliance officers.<br> <br> In the podcast they lay out a five-step process for certification:<br> <br> * Select a framework for the certification criteria that the organization will grade itself against.<br> * Conduct a scenario-based compliance risk assessment.<br> * Assess and design key control activities.<br> * Create a sub-certification waterfall: set accountable owners throughout organization to certify compliance effectiveness in their area.<br> * Arrange for a third party or internal audit to assess the program.<br> <br> Listen in to learn more, including the importance of documenting your processes.
