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8 - Measuring Compliance Risk and the Emergence of Analytics

from Part 2 - Quantitative Approaches to Measuring Corporate Compliance

Published online by Cambridge University Press:  17 February 2022

By
Eugene Soltes
Edited by
Melissa Rorie  and
Benjamin van Rooij
Melissa Rorie
Affiliation:
University of Nevada, Las Vegas
Benjamin van Rooij
Affiliation:
University of Amsterdam, School of Law
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Summary

Abstract: Corporate compliance manages a diverse set of regulatory and reputational concerns ranging from fraud to privacy to discrimination. However, effectively managing such risks has often been hampered by a lack of adequate information about when, where, and why misconduct actually occurs. This chapter presents three case studies of corporate initiatives designed to improve measurement of potential compliance risks. These initiatives are designed to identify and respond to different organizational challenges and needs, but each applies an analytical approach. After discussing the cases, the chapter discusses the limitations and opportunities associated with compliance analytics.

Keywords

Compliance, Risk Management, Regulation, Corporate Misconduct, Analytics, Big Data
Type
Chapter
Information
Measuring Compliance
Assessing Corporate Crime and Misconduct Prevention
 , pp. 137 - 152
Publisher: Cambridge University Press
Print publication year: 2022

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References

Charles, Valerie. 2020. Microsoft’s Alan Gibson on the Power of Compliance Data. GAN Integrity, Connected CCO Blog. www.ganintegrity.com/blog/microsofts-alan-gibson-on-the-power-of-compliance-data/.Google Scholar
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Deloitte/Compliance Week. 2017. In Focus: 2016 Compliance Trends Survey.Google Scholar
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Gartner, Legal and Compliance Research Team 2020. Pragmatic Analytics Rollout (Microsoft). Gartner case study, August 4.Google Scholar
Gates, Bill. 2013. Bill Gates: My plan to fix the world’s biggest problems. Wall Street Journal, January 25.Google Scholar
Gibson, Alan. 2020. Four Principles Underlying Microsoft’s Compliance Analytics Program. Anti-Corruption-Report.Google Scholar
Haugh, Todd. 2018. The power few of corporate compliance. Georgia Law Review, 53(1), 129–96.Google Scholar
Park, Jihwon. 2020. Does compliance training decrease corporate misconduct? Evidence from field data. Doctoral dissertation, Harvard Business School.Google Scholar
Soltes, Eugene. 2018. Evaluating the effectiveness of corporate compliance programs: Establishing a model for prosecutors, courts, and firms. NYU Journal of Law & Business, 14(3), 965–1011.Google Scholar
Soltes, Eugene. 2019. The frequency of corporate misconduct: Public enforcement versus private reality. Journal of Financial Crime, 26(4), 923–38.Google Scholar
Soltes, Eugene. 2020. Paper versus practice: A field investigation of integrity hotlines. Journal of Accounting Research, 58(2), 429–72.Google Scholar
Soltes, Eugene. 2021. The professionalization of compliance. In van Rooij, Benjamin and Sokol, D. Daniel, eds., Cambridge Handbook of Compliance. Cambridge, UK: Cambridge University Press.Google Scholar
US Department of Justice Criminal Division. 2020. Evaluation of Corporate Compliance Programs, updated June.Google Scholar
US Sentencing Commission (USSC). 2018. Guidelines Manual.Google Scholar

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