Ethics and Compliance Functions: Canadian Corporate Leaders’ Views

Based on interviews with 20 senior corporate leaders from some of Canada’s most influential companies, The Conference Board of Canada gained insight into the subject of ethics and compliance. This briefing provides a synthesis of their views on whether the function adds value, and if so, how it should operate within the organization. Should the CEO create a dedicated ethics and compliance officer to support him or her in this role, or rely on existing positions and committees to help build an ethical culture? While compliance is clearly a must for all listed companies, Canada’s leading senior executives and corporate directors argue that CEOs must move their organization beyond compliance and make ethical behaviour a fundamental trait of the company’s culture. Interviewees had differing opinions on how to achieve this. They were more unified, however, on the skills, experience and qualifications required for an ethics and compliance position to be effective.