As regulations continue to evolve in jurisdictions around the world, corporate boards and senior managers are paying very close attention to compliance efforts enterprise-wide. Organizations are reviewing procedures across business units and geographic boundaries to improve visibility into their regulatory compliance and mitigate compliance risks. In this process, though, treasury departments often get short shrift.

Deloitte recently published a book titled “Enterprise Compliance: The Risk Intelligent Approach.” Treasury & Risk sat down to discuss the book, and treasury's role in enterprise compliance, with two of the firm's thought leaders: Robert Biskup, director of forensic and dispute services, and Melissa Cameron, a Deloitte principal who specializes in treasury. Biskup previously served as the chief compliance officer for a Fortune 10 company, and Cameron served previously as a corporate treasurer and a wholesale banker. Both see the treasury function as a key, and often neglected, player in corporate compliance efforts.

T&R: More than a decade after the Sarbanes-Oxley Act brought regulatory compliance to the forefront for corporate boards and management, how well are most businesses doing in the area of compliance?