Which of the following is NOT part of an effective compliance program?

An effective compliance program is built on several key components designed to ensure that an organization follows applicable laws, regulations, and internal policies. One critical aspect of this program includes performing internal audits. These audits help in monitoring compliance effectiveness and identifying areas that require improvement.

Establishing standards is another foundational element, as it involves creating clear guidelines and expectations for behavior and procedures within the organization. This is essential for fostering a culture of compliance and accountability.

Additionally, establishing policies is vital as it provides a formal framework that outlines the organization’s commitment to compliance, detailing specific rules and practices that employees are expected to follow.

In contrast, ignoring procedures is not a characteristic of an effective compliance program. In fact, overlooking established procedures can lead to significant risks, including regulatory violations, unethical practices, and potential legal consequences. Therefore, the absence of attention to procedures directly undermines the integrity and effectiveness of compliance efforts.