The Emergence of the Australian Compliance Industry: Trends and Accomplishments
Christine Parker · Australian business law review · 1999
This article shows how compliance systems have emerged as a strategic management tool in a dynamic social and regulatory environment. The Australian compliance industry is the result of a convergence of innovative regulatory strategies and voluntary corporate use of compliance systems. I argue that the success of compliance systems in managing legal and regulatory responsibilities will depend to a large extent on the characteristics, skills and accomplishments of the emerging compliance profession. The compliance profession has already accomplished much, including the promulgation of a standard for compliance programs, but it faces many new challenges including the need to protect the integrity and independence of its members and the lack of a compliance privilege.