Compliance plays an important role in German companies and is often found at the management level of a company. The KPMG Compliance Report shows this. In most companies, the Chief Compliance Officer is directly under the board of management.
Another important finding of the report: Compliance doesn’t stop at your own company and extends to supply chain monitoring. In addition to customers and potential clients, the legislator in Germany also targets compliance in the supply chain with the Supply Chain Due Diligence Act. 80 percent of the companies we surveyed already communicate to their suppliers what they expect in terms of compliant behaviour.
Increasing stakeholder requirements
New regulatory developments in areas of compliance such as the whistle-blower protection law and increasing stakeholder requirements pose a challenge for companies to implement an appropriate and effective compliance organisation or to further develop your compliance organisation. But how good is your own Compliance department? Is the focus correct in terms of content? Questions which have been answered in the 2022 Compliance Report.
Our survey shows that 86 percent of companies surveyed rank new legislative initiatives, such as the Supply Chain Due Diligence Act, as the most important challenges for themselves and their Compliance department.
Partner, Risk & Compliance Services
KPMG AG Wirtschaftsprüfungsgesellschaft
The goal: Resilient benchmarking data
The report provides insights on relevant questions regarding the organisation, activities, costs, review, and developments and trends of the Compliance department. This adds direct value to the data: They provide transparency, facilitate the structure or review of their own compliance work, and demonstrate best practices for their day-to-day challenges.
The questionnaire on which the 2022 Compliance Report was based was created together with a specialist advisory board consisting of nine compliance experts from renowned international companies.