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Based on a late 2022 survey of nearly 1,860 ethics, compliance, and legal professionals worldwide (26% US), LRN’s “2023 Ethics & Compliance Program Effectiveness Report” includes—among many other data points—noteworthy benchmarking data on the role of the board of directors in companies’ ethics and compliance (E&C) programs, including these:

• 70% of respondent company boards reportedly include directors with expertise in E&C.
• 71% of respondents say their boards are held to the same standards of conduct applicable to executives in their organization.
• 62% report that their boards receive regular training in E&C matters.
• A plurality of respondents say their board reviews the company’s E&C program twice a year. Boards most commonly are provided training completion data and program budgets; however, other materials and topics are provided by at least 30% of respondents:  

• Nearly 30% of respondents indicated that they are considering adding to or strengthening training for their board on key compliance topics.

See “Mayer Brown Discusses Five Steps for Directors to Consider About Risk Governance” (CLS Blue Sky Blog) and additional resources on our Compliance & Ethics page.

          This post first appeared in the weekly Society Alert!