Categories
Culture Crafters

Culture Crafters – Turning Around a Toxic Culture: Part 3 – Assessing Culture

Boeing has recently seen one of the most public meltdowns over corporate culture. In 2024 alone, there have been multiple incidents, allegations, and reports about the company in the public arena. The company is under investigation by numerous governmental agencies. Several news organizations have reported a ‘toxic’ culture at the company, and there are ripples throughout the worldwide aviation industry. In such a situation, the question for any organization is how it thinks about turning around its culture. In this special five-part podcast series, Sam Silverstein, the most trusted voice in America on accountability, and Tom Fox, the Voice of Compliance, look at the ways a company in the depths of such a situation can plan out and take concrete steps to turn around and rebuild its culture. Part 3 is assessing your culture to develop a transformation strategy through The Culture Audit™.

The Culture Audit™ is a powerful tool for assessing an organization’s culture, providing a comprehensive analysis of its values, employee engagement, and accountability. It serves as a diagnostic tool, pinpointing strengths, weaknesses, and areas for improvement. Think of it as a health check-up for your organization, revealing insights into aspects of your workplace culture that may not be immediately apparent. The value of cultural assessments extends beyond regulatory compliance; they empower leaders to foster an environment where ethical decisions are second nature.

Silverstein emphasizes the essence of an action plan based on audit results to bring about desired improvements. Both Fox and Silverstein agree on the value of an external perspective in auditing and enhancing organizational culture. From The Culture Audit™, you can move to strategy design and implementation.

Key Highlights:

  • Culture Evaluation Through Comprehensive Cultural Audit
  • Truthful Insights through Anonymous Culture Assessment
  • Using Data to Design a Culture Transformation Strategy

Resources:

 Sam Silverstein

Sam Silverstein on LinkedIn

Sam Silverstein

The Culture Audit™

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
Compliance Tip of the Day

Compliance Tip of the Day: Improving Culture Through Investigations

Welcome to “Compliance Tip of the Day,” the podcast where we bring you daily insights and practical advice on navigating the ever-evolving landscape of compliance and regulatory requirements.

Whether you’re a seasoned compliance professional or just starting your journey, our aim is to provide you with bite-sized, actionable tips to help you stay on top of your compliance game.

Join us as we explore the latest industry trends, share best practices, and demystify complex compliance issues to keep your organization on the right side of the law. Tune in daily for your dose of compliance wisdom, and let’s make compliance a little less daunting, one tip at a time.

In this episode, we consider how you can improve your culture through your investigation process.

 

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

Categories
Daily Compliance News

Daily Compliance News: May 8, 2024 – The Broken Culture Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee and listen to the Daily Compliance News. All from the Compliance Podcast Network.

Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.

In today’s edition of Daily Compliance News:

  • How do you mend a broken culture? (WSJ)
  • The Italian Governor was arrested for corruption. (WaPo)
  • The US bans the export of chips to Huawei.  (FT)
  • Did Nigeria try to shake down Binance. (NYT)

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

Categories
Compliance Into the Weeds

Compliance into the Weeds: The WACKO Enforcement Action Involving BF Borgers

The award-winning, Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject.

Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds!

In this episode, Tom Fox and Matt Kelly look into an absolutely wacko SEC enforcement action involving BF Borgers and its founder and principal, Benjamin Borger’s.

The auditing sector was recently rocked by the Securities and Exchange Commission’s (SEC) investigation into BF Borgers CPA, an auditing firm with over 1,600 problematic disclosures. The incident, which serves as a reminder of the critical role played by audit committees in ensuring appropriate audit procedures,.

Only a fraudster can admire the audacity of Benjamin F. Borgers in fabricating audit reports for hundreds of clients, which underscores the need for enhanced governance and regulatory measures to prevent similar incidents in the future.

We discuss the impact on smaller public companies, focusing on their struggles to find competent and affordable audit firms. Matt raised the question of where the company’s audit committees were during all this fraudulent work. He also speculates on potential legal repercussions for Borgers and his firm. Both perspectives highlight the gravity of the situation, the need for improved oversight, and potential consequences of such actions.

Key Highlights:

  • Audit Quality Oversight in Regulatory Environment
  • Finding New Auditors After Losing Previous Firm
  • Limited Options for Small Company Auditors
  • Proactive Monitoring of Audit Firms by Committees

Resources:

Matt on Radical Compliance

 Tom 

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
Great Women in Compliance

Great Women in Compliance: Juliana Molina on The Culture We Deserve

Welcome to the Great Women in Compliance Podcast. In this episode, Hemma visits with Juliana Molina, the globe-trotting Compliance and Ethics expert. With law licenses in Brazil and Spain, and as in-house counsel in the US, she brings a multicultural touch to her work. She thrives as an advisor to various industries, driven by a passion to make compliance and ethics more human-centric.

Juliana’s extensive international experience gives her a unique perspective on how culture influences compliance and ethics practices, and how to adapt to different cultural contexts. She prioritizes facilitating ethical choices and fully informed decisions.

Juliana’s perspective on cultural transformation in ethics and compliance is deeply rooted in her belief that an ethical organization is one that views compliance not just as a matter of adherence to rules, but as a commitment to prioritizing the well-being and dignity of all its stakeholders.

Her experience in advising international businesses has reinforced her emphasis on understanding and addressing the diverse needs and experiences of everyone involved, including employees, customers, shareholders, and vendors.

Juliana’s vision of a human-centric approach to compliance promotes empathy, open communication, and collaboration in the co-creation and implementation of compliance programs. By embracing the diverse perspectives within an organization, Juliana believes we can make more informed decisions, drive cultural change, and ultimately align our operations with our vision and goals.

Key Highlights:

  • Human-Centric Cultural Transformation in Ethics and Compliance
  • Fostering Open Communication for Ethical Leadership
  • Leadership’s Role in Driving Organizational Cultural Transformation
  • Ethical Leadership to Prevent Toxic Workplaces
  • Ethical Culture Through Compliance and Empathy
  • An Inclusive Approach for Female Empowerment in Compliance

Resources:

Join the Great Women in Compliance community on LinkedIn here.

Categories
Blog

Transforming Culture: Part 3 – Assessing Change Through the Culture Audit™

Boeing is not the first company to find itself amid a massive scandal. You can think of Siemens’ bribery and corruption scandal, the VW emissions-testing scandal, the Wells Fargo fraudulent accounts scandal, or any other myriad of corporate scandals where culture failed and created a toxic culture. The question for any organization in such a situation is how to transform its culture. Currently running on the Culture Crafters podcast on the Compliance Podcast Network is a 5–part of podcast series with myself and Sam Silverstein, the most trusted voice in America on accountability. (The Culture Audit™ is the sponsor of this blog post series.)

Over this companion, 5-part blog post series, we look at how a company in the depths of such a toxic culture can begin to make a culture comeback by planning and taking concrete steps to turn around and rebuild its culture. In Part 3, we consider assessing change through The Culture Audit™ as a starting point for culture transformation.

The Culture Audit™ plays a pivotal role in culture transformation. It serves as a structured framework for assessing key cultural aspects, providing a comprehensive analysis of strengths and areas needing improvement. By leveraging this assessment tool, organizations can gain valuable insights into their cultural landscape, paving the way for informed decision-making and targeted interventions to drive positive change. The Culture Audit™ is not just about knowing the existing culture, but about providing actionable insights and an action plan for organizations to implement changes and enhance their culture effectively. Its true transformative potential lies in its ability to catalyze meaningful cultural shifts by pinpointing areas of alignment and discord within an organization.

The Culture Audit™ provides organizations with a clear roadmap for culture transformation. The emphasis on anonymity within the audit process lets employees express their perceptions candidly, fostering a culture of openness and transparency. By providing a platform where individuals can share their feedback without fear of retribution, organizations can obtain honest and valuable insights to understand the actual state of their culture.

The Culture Audit™ stands out from traditional assessment strategies due to its unique features. It offers ease, speed, accuracy, and anonymity, making it a cost-effective and efficient tool for organizations striving to enhance their culture. Its ability to support multiple languages ensures accurate and in-depth insights from diverse workforce populations, further setting it apart from other tools.

The Culture Audit™ measures various aspects of a company’s culture, including compliance practices, hiring processes, and employee engagement. It generates a comprehensive report highlighting gaps and providing actionable improvement steps. The tool mainly benefits global organizations as it supports international language communication.

One key feature of The Culture Audit™ is its emphasis on auditability and transparency. In the event of a regulator’s inquiry, the tool provides a detailed report that can be shared to demonstrate the company’s commitment to assessing and improving its culture. The Culture Audit™ goes beyond basic measures of engagement and assesses accountability and decision-making processes, providing a comprehensive view of an organization’s culture. The raw data collected during The Culture Audit™ is also retained for future reference, allowing organizations to track their progress over time.

The Culture Audit™ brings significant benefits to organizations. It not only identifies areas for improvement but also provides actionable insights. The audit report includes a detailed action plan that guides organizations on specific areas to focus on and steps to take for improvement. As Silverstein emphasized, by continuously reinforcing positive aspects of their culture, organizations can prevent a decline over time. This continuous improvement approach is crucial for all companies, whether they are underperforming or reinforcing what they are already good at.

In conclusion, The Culture Audit™ provides organizations with a powerful tool to assess and improve their corporate culture. By measuring various aspects of culture, providing actionable insights, and emphasizing auditability and transparency, The Culture Audit™ helps organizations create a positive and productive workplace environment. With regulators’ increasing focus on corporate culture, The Culture Audit™ can also help companies demonstrate their commitment to ethical behavior and compliance. By utilizing this tool, organizations can drive better leadership, improve employee engagement, and ultimately enhance their bottom line.

Categories
Uncovering Hidden Risks

Ep 7 – Cloud Native Data Loss Prevention: The Future of Data Security

Maithili Dandige, Partner Group Product Manager at Microsoft, joins Erica Toelle and guest host Shilpa Bothra on this week’s episode of Uncovering Hidden Risks. Maithili’s team is behind Microsoft Purview products such as Information Protection, Data Loss Prevention, Data Lifecycle Management, Records Management, eDiscovery, and Audit. Maithili discusses Data Loss Prevention, some recent DLP research, and what’s upcoming in this space.

In This Episode You Will Learn:

  • The journey of DLP solutions and where the market is today
  • What customers should be expecting from DLP solution providers
  • The benefits of adopting a cloud-native solution

Some Questions We Ask:

  • What do you see as the future of DLP space?
  • How can you empower your users to make the right data-handling decisions?
  • What trends do you currently see evolving?

Resources:

View Maithili Dandige on LinkedIn

View Shilpa Bothra on LinkedIn

View Erica Toelle on LinkedIn

Connect with the Compliance Podcast Network at:

LinkedIn: https://www.linkedin.com/company/compliance-podcast-network/
Facebook: https://www.facebook.com/compliancepodcastnetwork/
YouTube: https://www.youtube.com/@CompliancePodcastNetwork
Twitter: https://twitter.com/tfoxlaw
Instagram: https://www.instagram.com/voiceofcompliance/
Website: https://compliancepodcastnetwork.net/