Company A has a chief compliance officer who reports to the board of directors' audit committee. A department of six employees report directly to the chief ethics and compliance officer. In Company A, the chief ethics and compliance officer and the six-employee department assume general responsibility for monitoring and enforcing compliance. This demonstrates

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Effective ethics and compliance departments have formal and informal structural elements. Formal elements are noted by reporting responsibilities.

Company a Has a Chief Compliance Officer Who Reports to the Board