The article discusses effective corporate compliance, analyzing case law which helped establish today's regulatory and legal frameworks. It reviews laws such as the Federal Sentencing Guidelines for Corporations (including a 2010 amendment regarding compliance and ethics programs). The article explains the whistleblower program under the Dodd-Frank Act. It reviews the responsibilities of the audit committee, setting forth five active steps for a robust and effective compliance program. Finally, the article concludes compliance is necessary for a corporation's reputation and bottom-line, and that the board must take ownership of clearly articulated compliance measures.
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