They can also help ensure that processes are in place for employees to raise ethical and compliance concerns in an environment that protects them from retribution from affected managers.
Internal controls over compliance While much of the public attention around Sarbanes-Oxley focuses on the first two areas of the COSO framework - operations and financial reporting, counsel especially should not forget about the third area, “compliance with applicable laws and regulations.” Risk management clearly cannot be effective within a company if we forget about the basics of internal controls.