Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/84441
Authors: 
Apreda, Rodolfo
Year of Publication: 
2006
Series/Report no.: 
Serie Documentos de Trabajo, Universidad del CEMA: Área: finanzas 325
Abstract: 
This paper contends that compliance risk and the compliance function are powerful devices to enhance corporate governance not only in banks but in any other organization as well. Firstly, it reviews the contribution made by the Bank for International Settlements (BIS), which pertains to financial institutions only. Next, it upholds that compliance risk actually matters in any corporate governance environment. Afterwards, it deals with how the compliance function can be shaped so as to grant, on the one hand, its own independence and, on the other, clear-cut patterns of accountability behavior. Subsequently, it points out that there are some drawbacks in the BIS'choice of governance principles. Lastly, it brings forth a set of governance principles for both compliance risk and the compliance function in financial and non-financial organizations alike.
Subjects: 
compliance risk
compliance function
accountability
corporate governance
banks governance
accountability
JEL: 
G30
G34
G38
Document Type: 
Working Paper

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