This December issue is no less than a manifestation of that pledge. Whereas our last issue (05/2013) had a strong focus on governance topics, in this issue we return to a number of varied compliance themes, including broad and narrow aspects of privacy compliance; anti-bribery and corruption as seen through through the eyes of the International Chamber of Commerce; and the rigorous, sometimes unexpected world of extraterritorial reach of foreign laws. Governance however, still features in this issue – or might we consider coining a new phrase of “Compliant Governance”? This issue’s feature column on Regulatory Viewpoint is surely one of the best, published exposés of regulatory expectations - and intent - on organisational behaviour and leadership that I have read. The article by Wijnand H.J.M. Nuijts of the Dutch regulator, DNB, provides clear and practical explanation and guidance on the evolution of regulatory thinking and expectations in this field, whilst our Editor Scott Killingsworth continues his discussion of how the psychology of the executive suite renders this a real challenge to Company Boards and Compliance functions everywhere.
I was recently asked why we cover such a wide range of subjects. Surely, they remarked, readers interested in compliance have little interest in governance. Leaders of industry struggling with governance would not have the patience to consider the intricacies of compliance issues, would they? Or indeed, should they? In our view they most certainly should!
Governance, compliance and ethics are inextricably bound together – no matter the industrial or service sector you find yourself – irrespective of whether you find yourself in the world of finance or not. Governance, the framework of systems and procedures leading organisations to make good decisions is nothing without a compliance culture to support it; and decisions made will be lacking without a healthy dose of ethical reflection to direct the process. Efforts to build a compliant organisation will certainly fail without a clear and transparent governance structure, enabling the leadership to demonstrate their mission and ethical values to those working for them. Ethics alone is merely a statement of best intentions. Without the governance modalities to ensure that ethical questions are properly tabled and discussed, and a compliance organisation to ensure the ethical intention and stance of the company are properly understood, propagated and applied throughout the organisation, failures will continue to make headlines.
We feel that our subject area, seemingly diverse, and certainly relevant to a very broad readership, is in fact a necessary ‘whole’ without which leadership cannot excel or ensure long-term success in any walk of life. Our New Year’s wish for you therefore, is to achieve success in building a vision for governance, compliance and ethics wherever you may be. Happy New Year!