Our thinking

2023 Global compliance risk benchmarking survey

In collaboration with

KPMG

 

Industry perspectives on the state of compliance today and effective strategies for managing compliance risk within the changing regulatory landscape

 

Introduction

Darryl Lew
Partner
White & Case LLP
T: +1 202 626 3674

Matthew McFillin
Partner, Forensic Services
KPMG LLP
T: +1 267-256-2647

In today's fast-paced and interconnected world of global business, a robust and comprehensive compliance program is not merely a choice, but a critical imperative for any organization. Drawing on the opinions of 201 senior decision-makers from more than 30 countries.

White & Case LLP and KPMG LLP's "2023 Global compliance risk benchmarking survey" offers powerful insights into compliance practices across industries worldwide and strategies employed by companies to manage their compliance risks—from anti-corruption risk assessments, third-party management and employee risk awareness to environmental, social and governance (ESG) practices and cybersecurity.

Among the key findings are the importance of regular anti-corruption risk assessments and robust third-party management practices—essential components for creating a culture of compliance and transparency.

Use of data analytics is gaining momentum in compliance programs, though many companies are still in the developmental stage. Testing anti-corruption programs for effectiveness is crucial, as is consistent measurement of hotline awareness and effectiveness, along with addressing employee concerns about hotline integrity.

ESG has increasingly become an area of focus, but our respondents reveal a lack of consistency in addressing ESG risks. This inconsistency in approach can hinder the effective implementation of organization-wide policies and procedures and lead to uncertainty among employees. Clearer guidance and communication are essential in navigating the complexities of ESG and ensuring successful integration into business practices.

Looking ahead, cybersecurity takes center stage as the top compliance priority for the next 12 months, as safeguarding sensitive data and proactively addressing digital threats become more important than ever.

By proactively addressing these compliance challenges, organizations can ensure ethical business practices, mitigate risks and safeguard their reputation in an increasingly complex regulatory environment. We hope you will find our "2023 Global compliance risk benchmarking survey" an insightful read.

Key insights at-a-glance

Drawing on the opinions of 201 senior decision-makers from more than 30 countries, White & Case LLP and KPMG LLP's "2023 Global compliance risk benchmarking survey" offers insights into compliance practices across industries worldwide and strategies employed by companies to manage their compliance risks—from anti-corruption risk assessments, third-party management and employee risk awareness to ESG practices and cybersecurity.

In today’s fast-paced and interconnected world of global business, a robust and comprehensive compliance program is not merely a choice, but a critical imperative for any organization

Key insights at-a-glance View full image: Key insights at-a-glance (PDF)

Global compliance risk benchmarking survey: ABC risk assessments

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Global compliance risk benchmarking survey: Third-party management

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Use of data analytics in compliance programs

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Global compliance risk benchmarking survey: Monitoring and review

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Global compliance risk benchmarking survey: Compliance escalations

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Global compliance risk benchmarking survey: ESG

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Impact of remote working on compliance and investigations

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Looking to the future: Cybersecurity tops the list of compliance priorities for the next 12 months

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Survey methodology and demographics

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Survey methodology and demographics

In collaboration with

KPMG

Insight
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1 min read

Survey methodology

White & Case LLP and KPMG LLP developed a survey questionnaire consisting of 65 questions. Questionnaires were made available using several different methods, including social media and direct email contact. Potential participants received a link to an online survey platform, which allowed completion on both desktop and mobile formats. Participants could save their progress in the survey, but were encouraged to complete it in one sitting. Data was collected without identifying the respondent over a period of four months, from June to September of 2022. A total of 201 respondents from companies with headquarters across 34 countries and six continents completed the survey, and 40% of respondents were headquartered outside of the United States.

Annual revenue (US$) (PNG) View full image: Annual revenue (US$) (PDF)

What is the biggest compliance issue facing your organization in the following 12 months? (PNG) View full image: Company size by headcount (PDF)

Company industry View full image: Company industry (PDF)

Demographics

  • 201 respondents
  • Headquarters in 34 countries across six continents
  • 40% headquartered outside of the United States
  • 60% publicly listed companies
  • 50% US-listed and 10% non-US-listed
  • 28% with business operations on one continent; 
  • 40% reported operations on six continents
  • Respondents occupied various positions within their respective organizations and represented companies from more than six distinct industries that ranged in size from fewer than 1,000 employees to more than 50,000 employees, and in revenues from less than US$250 million to more than US$50 billion.

Company industry (PNG) View full image: Respondent’s role (PDF)

Listing status (PNG) View full image: Listing status (PDF)

White & Case means the international legal practice comprising White & Case LLP, a New York State registered limited liability partnership, White & Case LLP, a limited liability partnership incorporated under English law and all other affiliated partnerships, companies and entities.

This article is prepared for the general information of interested persons. It is not, and does not attempt to be, comprehensive in nature. Due to the general nature of its content, it should not be regarded as legal advice.

© 2023 White & Case LLP

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