One of the 3 factors often implicated in Reputation Risk is lack of ethical behavior and compliance failure.

An organization’s ethical culture and compliance program is therefore very critical to preventing Reputation Risk. Effective ethics and compliance within an organization require senior management involvement, organization-wide commitment, an effective communications strategy and an ongoing monitoring system.

The following questions from Deloitte will assist board members in assessing whether elements of an ethical culture and an effective compliance program are in place at their company.

Use these questions to assess your company’s adherence to ethical and compliance best practices.

Ethics and Compliance Programs: Questions Boards May Want to Ask – Deloitte Risk & Compliance – WSJ.