Nordic Ethics & Compliance Survey 2023
How Nordic organisations are working with Ethics & Compliance
While working with Nordic organisations we have noted that there is a huge need for benchmark data. This is the 2nd year when we focus on ethics and compliance work within Nordic organisations.
Our key insights include the following:
- Professional diversity among E&C professionals has increased.
- Only minority of Nordic companies offer in-person E&C training to everyone.
- The number of whistleblowing reports has increased.
- Less than a third of Chief Compliance Officers report with full independence.
- Only 13% of respondents think that E&C is reflected in their compensation schemes.
- Nordic organizations have room for improvement in measuring the effectiveness of their work.
We hope these insights we aim to support the ethics and compliance officers in developing their organisation and program.
The recording of the survey launch can be found here.
Download the survey report
Our survey partners
Forensic Risk Alliance (FRA) helps international businesses navigate complex investigations, disputes and regulatory compliance, offering independent expertise in forensic accounting, data and technology. Our specialists have earned the trust of clients and counsel all over the world through our unique ability to build the best team for each engagement from across all 12 primary locations and datacenters (including Stockholm). FRA’s skilled professionals tailor comprehensive solutions and strategies informed by almost 25 years’ experience tackling white collar crime. Our core specializations include anti-bribery and corruption, anti-money laundering, sanctions, and accounting malpractice. We also help companies stay on top of emerging risks and challenges such as cryptocurrency and environmental matters. Find out more at forensicrisk.com
ABOUT DLA PIPER
Asianajotoimisto DLA Piper Finland Oy is part of DLA Piper, a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help companies with their legal needs anywhere in the world.
DLA Piper is also a leading law firm in the Nordics with five offices and 470 lawyers. We help our clients make business better, more profitable and more responsible, worldwide.
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LRN’s mission and purpose is to inspire principled performance and help people around the world do the right thing. Since 1994, LRN has worked to propel organizations forward with the partnership, knowledge, and tools to build ethical culture. More than 2,800 companies and tens of millions of learners worldwide utilize LRN services and take LRN e-learning courses to help navigate complex regulatory environments and foster ethical, responsible, and inclusive cultures. In partnership with LRN, companies translate their values into concrete corporate practices and leadership behaviors that create sustainable competitive advantage. By acting upon shared values, companies and their people find the means to outbehave and outperform. Learn more at LRN.com and follow on Twitter, LinkedIn, and Facebook.
People with a business administration and management background working in E&C roles has increased from 19% (2021) to 27% (2023).
Nordic organisations are lagging behind in implementing compliance in their incentive and bonus systems, even though regulators have recognized the importance of this aspect (e.g. DOJ Guidance from October 2023).
E-learnings alone are unlikely to help employees managing ethical stress and solve ethical dilemmas.
Nordic companies need to ensure that their Heads of E&C have direct access to the Board of Directors or Board committee.
As a result of the EU Whistleblowing Directive 98% of the respondent companies have anonymous whistle-blowing channels in place.
Our work should not only focus on whether a compliance program is well designed and implemented, but also on whether it has the intended effect.