Tom Fox writes about things a compliance practitioner can do right now, in the midst of the COVID-19 crisis, and what they might need to consider in preparation for coming out of the crisis. In this last article, he provides some final thoughts for the compliance professional, drawing upon things he has learned in his recent research and writing.
Tricia Cornell of ReThink Compliance said that you have to rethink your time horizons. “While right now, you may be in pure survival mode and cannot think past one week, you also need to consider how you will operationalize compliance in the next 30 and 60 days,” she advises.
Jonathan Marks cautions against making “just one time” exceptions to standards, saying that “companies and their boards need to recalibrate and in most cases increase their oversight today and subsequent to the crisis until things stabilize.”
Fox also echoes the powerful statement of Kevin Abikoff and Mike Huneke’s essay title, “There is no COVID-19 Defense to Corruption.”
