Staff must comply with policies, expert urges

News Article - 14 August 2007
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One audit professional has voiced concerns that firms within the financial and accountancy sectors may not be doing enough to make sure that their workers are up to speed with compliance policies.

A recent survey conducted in London and New York highlighted that a sixth of financial staff believe their company's policies to be outdated, while many were found to never have read them, reports the Jersey Evening Post.

Dr Elaine Monkhouse, KPMG's executive director for the Channel Islands, commented on the findings, saying: "The same is true in the Channel Islands and this complacency is placing staff and companies at risk of investigation, fines and penalties."

She added that it was vitally important for firms to ensure that their workers are kept up to date on compliance policies as within the finance sector such documents are often being amended.

In related news, VNUNet.com cites a recent study which found that more than half of firms have no policies on managing security issues or complying with directives of a legislative nature.

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