The Evolution of Controls with Eric Young Effective controls are the lifeblood of what makes a compliance program work. In today's episode of The Compliance Podcast, Thomas Fox sits down with former Global Chief Compliance Officer Eric Young and talks about internal controls, how human conscience overrides technology and emphasizing the long-term benefits of running clean organizations in the compliance space.  Major takeaways discussed in the episode: From financial institutions to public corporations — understand that compliance & ethics bridges enterprise risk management and a system of internal controls, including internal accounting controls. It also is the fabric that cuts across the E-S-G, which is not yet viewed enough this way. Know that an effective system of internal controls is about people, processes, and technology. People are the most important of the three because, without people, functions won't be clearly defined and assigned. Technology accelerates the flawed processes, gaps, and weaknesses leading to loss of data integrity and controls.   The COVID-19 pandemic has created a shift and has become an important opportunity for compliance to be the drivers of ethics and to stand as owners of the code to shape the behavior of corporations, not just focusing on maximizing profits but responsibly safeguarding employees  Be constantly reminded that a robust set of controls can be the backbone for financial management, but compliance and ethics can help a company build more efficient business process systems.  Connect with Eric Young A compliance practitioner for 40 years, Eric re-engineers & advises firms on how Compliance, Ethics, Conduct, and RegTech programs can enable safe, healthy, sustainable growth. LinkedIn: linkedin.com/in/youngerict About Thomas Fox:   Thomas Fox, the Compliance Evangelist®, is one of the leading writers, thinkers, and commentators on anti-bribery and anti-corruption compliance. In this latest edition of The Compliance Handbook, he continues to arm seasoned compliance professionals and those new to the realm with the practical, actionable guidance and tools needed to design, create, implement and continually enhance a best practices compliance program.   The "Nuts and Bolts" for Creating a Comprehensive Compliance Plan   This chapter of this unique work lays out a succinct yet thorough one-month approach to operationalizing a company's compliance regimen. Beginning with a section on what 2020 brought to the compliance landscape, each chapter methodically outlines best practices for everything from establishing policies, procedures, and internal controls, to assessing risk, training, handling investigations, and more. Each day ends with three key takeaways you can implement at little or no cost. Understanding Compliance Responsibility Across the Organization   The Compliance Handbook also takes a close look at all professionals' roles with compliance responsibility, from Compliance Officers and Boards of Directors to Human Resources, to Internal Audit and Internal Controls and Communications and Training professionals.   In-Depth Treatment of Hot Topics and Trends   The Handbook provides an in-depth look at the latest thinking and trends for the full range of critical compliance topics, including:   • Compliance and business ventures • Third-party risk management • The Board's Role in Compliance • Continuous improvement • Compliance innovation • And much more Order your copy OR copies of The Compliance Handbook: A Guide to Operationalizing Your Compliance Program. Save 25% off.  http://www.lexisnexis.com/fox25