1. Policies, Procedures & Standards
It communicates an organization's values and mission and the standards it sets for itself.
What is Code of Conduct?
This case established the standard for the Board of Directors duty of care.
What is Caremark? (BOD should make good faith effort to create systems that provide board members with information they need to manage a corporation in a way consistent with their duties of loyalty and care)?
OIG recommends these two kinds of education and training.
What is general and specific education?
They are basically two types of reviews where one is more rigorous, formal and independent, and the other is done on a daily or routine basis and does not require independence.
What is auditing and monitoring?
Discipline should always be ______, ________, and _____________.
What is fair, equitable, and consistent?
These documents are integral to the day-to-day operation of the organization
What are Policies and Procedures?
They have a duty of oversight of the corporate compliance program.
What is the Compliance Officer, Compliance Committee and the Board of Directors?
___________ are the most important lines of defense for a compliance program?
What is Education and training?
How often should an effective compliance program evaluate its processes?
What is constantly?
Disciplinary guidelines should be published in the ________________
What is standards of conduct?
Mass Law states that Board Members will perform their duties in good faith.
What is Mass Law for Non-Profit Corporations?
Board members act in the best interests of the organization, avoid and disclose conflicts.
What are Duties of Loyalty?
At least ________ many hours of education and training are recommended for annual compliance training
What is at least 1 hour?
_________________ is a real time audit while _______________ looks at the past.
What is concurrent and retrospective audits?
Equity, standardized processes and collaboration.
What is systematic approach to enforcing standards?
Policies and procedures should be written at this reading level.
What is 8th grade?
Approves scope of compliance plan
What is the Board of Directors?
COI
What is Conflict of Interest?
The organization encourages questions, reporting concerns and/or violations in an easy manner through these systems.
What are the compliance/privacy helpline and email system?
The three Cs of communication are _________
What is clear, concise and creative?
What is a conflict of interest?
Board members attend board meetings; obtain information and ask questions.
What are the Duties of Care?
This kind of education and training is critical for high-risk areas or specialized personnel.
What is specific/focused training?
A _________________ policy is necessary for any reporting method.
What is a non-retaliation policy. What is a confidentiality policy?
This policy encourages effective communication
What is open-door policy (where the employees feel comfortable approaching supervisors and/or the compliance professional and openly discussing any potential problem; an open line of communication between Compliance and personnel)?