 - A Chief Compliance Officer (CCO) is a corporate official in charge of overseeing and managing compliance issues within an organization, ensuring, for example, that a company is complying with regulatory requirements, and that the company and its employees are complying with internal policies and procedures. CCO is one of a growing number of fairly new corporate titles including CEO, CFO, CIO, CTO, and CSO.
Corporations have become concerned about compliance because of increasingly stringent legal requirements. In the wake of the Enron and WorldCom accounting scandals, the United States federal government has passed legislation to guard against corporate fraud. The Sarbanes-Oxley Act, for example, stipulates how corporations must report their financial results, and makes executives responsible for accounting irregularities.
CCO is sometimes said to stand for Corporate Compliance Officer.
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31 Mar 2008
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