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To control or to compromise? The prominence of chief compliance officer and foreign corrupt practices act violation
dc.contributor.authorLiu, Chenyong
dc.contributor.authorXu, Chunhao
dc.contributor.authorLiu, Zhenfeng
dc.date.accessioned2021-05-12T17:24:39Z
dc.date.available2022-05-12 13:24:38en
dc.date.available2021-05-12T17:24:39Z
dc.date.issued2021-04
dc.identifier.citationLiu, Chenyong; Xu, Chunhao; Liu, Zhenfeng (2021). "To control or to compromise? The prominence of chief compliance officer and foreign corrupt practices act violation." Journal of Corporate Accounting & Finance 32(2): 114-128.
dc.identifier.issn1044-8136
dc.identifier.issn1097-0053
dc.identifier.urihttps://hdl.handle.net/2027.42/167489
dc.description.abstractWe investigate the influence of chief compliance office (CCO) prominence in the corporate management team on FCPA violation and audit fees. Based on the compliance function leader’s position seniority, we find that a CCO’s position rank is positively associated with the propensity of FCPA violation. It indicates that promoting CCO in the firm can facilitate more aggressive compliance policies—it is a “compromise” instead of a “control.” We also find that CCO prominence is positively associated with audit fees even without an FCPA violation happening, which implies that auditors could fully perceive the potential risks embedded in the compliance chief’s promotion. The results of this study can be of interest to audit practitioners as well as regulators to better monitor the firms with higher FCPA violation risks.
dc.publisherSAGE
dc.publisherWiley Periodicals, Inc.
dc.subject.otheraudit fees
dc.subject.otherchief compliance officer
dc.subject.otherforeign corrupt practices act
dc.titleTo control or to compromise? The prominence of chief compliance officer and foreign corrupt practices act violation
dc.typeArticle
dc.rights.robotsIndexNoFollow
dc.description.peerreviewedPeer Reviewed
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/167489/1/jcaf22491_am.pdf
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/167489/2/jcaf22491.pdf
dc.identifier.doi10.1002/jcaf.22491
dc.identifier.sourceJournal of Corporate Accounting & Finance
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dc.working.doiNOen
dc.owningcollnameInterdisciplinary and Peer-Reviewed


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