Behavioral science helps check all the boxes
Behavioral science can impact an array of business processes, such as travel and expense management, accounts payable, sales, and financial reporting.
Embedding behavioral science into compliance programs has additional benefits. The latest Department of Justice (DOJ) guidance for evaluating corporate compliance programs during an investigation asks prosecutors to give credit to the effectiveness of a company's program for monitoring high-risk transactions – such as questionable payments to third-party consultants or suspicious trading activity.
In addition to getting positive recognition from the DOJ for the design of your risk and compliance program, behavioral science also encourages ethical decision-making, and improves risk management. Integrating this new approach into your compliance program is set to have a transformative influence on the impact your team has on the business.
Read more about how you can improve compliance and controllership with behavioral science here.