CCO


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CCO

(1) (Chief or Corporate Compliance Officer) The executive person in charge of compliance issues, regulatory requirements, internal controls and managing audits within an enterprise or organization. Hiring for the position of CCO became popular in the early 2000s as a response to accounting and fraud scandals of such companies as Enron, Tyco and WorldCom, which were involved in corporate governance and financial disclosure problems. Legislation to ensure responsible reporting was passed, and policy compliance became a significant focus of upper management everywhere. See Sarbanes-Oxley Act.

(2) (Chief Confusion Officer) The head of the confusion department in large software companies who oversees the group that ensures that the next version of their software will mystify all previous users and drive them batty.
References in periodicals archive ?
The proposed reforms gained momentum this session because of the sale of Lane County's for-profit CCO, Trillium Community Health Plan, to Missouri-based for-profit Centene Corp.
According to the survey, 40% of asset management CCOs were appointed in the last two years, with nearly 60% of those appointed coming from outside the firm rather than from internal candidates, thereby "signaling the need for a visible shift by bringing in" outside executives.
The CCO should lead the compliance portion of the meeting, and management should support the CCO's discussion and recommendations, making clear that it intends to follow them.
More companies today have a compliance function, whether they have a CCO or not, or if it's part of the general counsel's role.
CCO conducted Vendor Engagement Days in Nairobi and Mombasa, Kenya during the last week of January.
The study was a joint effort of the federal and provincial Children's Complaint Offices which not only served to provide greater autonomy to the provinces in accordance with the 18th amendment but also paved way for more coordinated efforts of the federal and provincial CCOs in working jointly for children's welfare.
I bet if you go back and look at the culture of successful companies and how they view the CCO role, they've come to view it as critical to their way of life.
There's a tremendous amount of inequity between what one CCO will cover and what another CCO will cover.
In some instances, the risks described to the staff by the registrant's principals were different than the risks described by the outsourced CCO.
Townsend rejoined Heartland as deputy CCO in 2013 and presently serves on the board of directors of Illinois Bank & Trust, as board member of the Community Development Fund of Galena and volunteers work for different school and church activities.
The telecom firm has selected Maksim Yefremov to take the position of CCO of the Company.
The role of a CCO, the functions undertaken, and the reporting lines vary among corporations, along with the business decisions they get involved in.