‘Compliance not being embraced’

FINANCIAL firms are failing to grapple with their compliance responsibilities, according to a survey by PricewaterhouseCoopers (PwC).

While eight out of 10 organisations believe the compliance function adds value to their business, many are finding it difficult to pinpoint the value and benefits of compliance, PwC said.

The international study found many board directors do not yet fully appreciate the tangible benefits of instilling compliant behaviour into their organisations.