University of Konstanz and Idox Compliance partnership delivers innovative compliance measurement tool
- 17 February 2017
The team at Idox Compliance has developed the ‘Integrity Compass’ to support organisations with establishing a strong compliance culture across their workforce.
Developed in collaboration with the Center for Business Compliance & Integrity at the University of Konstanz, the new tool provides the means to tackle issues around compliance accountability and implementation, responding to regulatory requirements such as the Criminal Finance Bill which makes boards criminally liable for a range of ‘white collar’ crimes committed by their employees.
Michael Kayser, managing director of Idox Compliance explains: “Accountability in all areas is key to modern business. At Idox Compliance we can help ensure that compliance issues are adhered to and conveyed in tangible, measurable ways that will benefit both staff and the board when it comes to delivering awareness, transparency and reliable integrity.”
By offering a web-based data collection and evaluation tool for measuring employees’ understanding of their company’s approach to ethics and compliance, the Integrity Compass provides quantitative statements about the knowledge, acceptance and awareness of compliance and integrity initiatives among company managers and employees.
Taking on board the factual data, the tool reveals strengths and weaknesses and offers tips on how a company can optimise their compliance management systems to ensure employees and partners are kept up to scratch with compliance ethics. Results are presented in useful dashboards and provide opportunities for benchmarking and year-on-year analysis of progress across each of the metrics.
Greater awareness of all aspects of compliance is part of reinforcing business integrity and good governance. Idox Compliance can help protect an organisation’s values, reputation and competitive advantage by supporting integrity, ethics and compliance awareness and understanding.