EY Virtual Compliance Officer (VCO)

EY Virtual Compliance Officer (VCO), EY'ın şirketlere sunduğu teknoloji temelli etik ihbar bildirim hattıdır. EY VCO, şirketlerin ISO 37301 ve EU Whistleblowing Directive ile uyumlu hale gelmesini sağlayarak şirket faaliyetleri kapsamında oluşan etik ihbarlarının yönetilmesine yardımcı olur.

Benefits for your organization

Benefits for the Management Boards and the Shareholders

Business security and compliance with the law

  • Comply with the requirements of the EU Whistleblowing Directive
  • Detect and prevent the misconduct early on
  • Minimize the risk of losses resulting from misconduct
  • Get support from EY professionals specialized in internal investigations

Benefits for Whistleblowers

Anonymous and easy reporting of misconduct

  • Easy access through internet browser and mobile devices
  • Simple and legible misconduct report form
  • Access to current report statuses
  • An EY-managed service ensuring independence and confidentiality

 

Benefits for Compliance Officers

Automated processes and reliable tools

  • Effective monitoring of misconduct reports thanks to automated notifications and reminders
  • Set of useful tools for managing misconduct reports (including online repository and case summary)
  • Security of confidential data in line with the leading IT security standards
  • Secure access can be granted to employees or third parties investigating the matter


Select your EY Virtual Compliance Officer plan

 
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EY Virtual Compliance Officer tool

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Support of EY proffesionals

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Access to the smart document repository for employees

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  • Practical experience of EY professionals combined with cutting edge IT technologies

    EY Virtual Compliance Officer was developed by EY Forensics professionals who have extensive, hands-on experience in managing misconduct complaints and in interacting with whistleblowers. Our practical experience from more than 800 engagements over the last 15 years was combined with the knowledge of leading IT professional to make EY Virtual Compliance Officer a simple and secure solution that lets you react properly to reports of potential misconduct.

     

  • Compliance with the EU Whistleblowing Directive

    EY Virtual Compliance Officer allows the company both to create a reporting channel for whistleblowers and to satisfy other requirements outlined in the EU Whistleblowing Directive, including sending acknowledgement of receipt of the report to the reporting person, ensuring their anonymity and deleting (anonymizing) any redundant personal data. As a service provider, EY ensures that EY Virtual Compliance Officer will be updated to accommodate for new legislations and it can be further developed based on client feedback.

     

  • Leading data security standards guaranteed by ISO 27001 certificate

    The electronic data is kept within the territory of the European Union (hosted on the EY Client Technology platform based on Microsoft Azure cloud solution).

    As proven by comprehensive penetration tests and ISO 27001 certified infrastructure, the EY Virtual Compliance Officer maintains leading-edge information security management standards.

     

  • Convenient and easy to use solution to help Compliance Officers manage misconduct reports


    EY Virtual Compliance Officer supports Compliance Officers in their daily work, assisting in management of misconduct reports according to legal requirements. Automated reminders will ensure you will not miss an important deadline and the records of the undertaken actions (the audit trail) will document your company’s due process. The system will reduce the amount of manual work thanks to automated processes and will allow you to grant access to other employees, separately for each misconduct report.

  • Simple process for reporting misconduct, accessible online from any location and device

    EY Virtual Compliance Officer is a mobile-friendly, cloud-based solution, which allows for reporting from any location or device, whilst ensuring the whistleblower stays anonymous. Accessible misconduct report forms can be filed by company employees and individuals from outside the organization alike. Anonymous chat will allow you to talk to the whistleblower and exchange attachments.

  • Solution tailored to your organization

    EY Virtual Compliance Officer can be tailored to your organization, among others by adding graphic elements and logotypes, as well as by modifying the misconduct report form.

     

  • Team of experienced EY professionals at your fingertipTeam of experienced EY professionals at your fingertips

    Subscription to the EY Virtual Compliance Officer comes with a package of hours for advisory support (for example for conducting interviews, undertaking forensic data analysis or e-Discovery services) from an experienced team of EY forensics and compliance professionals.

  • You can select an EY Virtual Compliance Officer option which comes with a smart document repository for employees

    EY Virtual Compliance Officer can include an additional module which grants users easy access to your organization’s internal documents, such as policies, regulations and guidelines. Thanks to the in-built monitoring functionality, a Compliance Officer can manage these documents and request employees to confirm they have read them. This module is equipped with automated reminders, statistics, history of records and a chat.

 

EY Virtual Compliance Officer

Typical software provider

Typical legal counsel and advisory company

Whistleblowing automation IT tool for misconduct reporting

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Anonymous reporting and a confidential channel for communication with the whistleblower

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Advanced features  for case management / administration of misconduct reports

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Professional support in implementing procedures tailored to a client’s specific needs

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Support in the assessment of misconduct reports and recommendations on follow-up actions

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Support during internal investigations

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Smart document repository for employees

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Low maintenance cost 

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  • To whom does the EU Whistleblowing Directive apply?

    The requirements laid forth in the Directive will be binding for:

    • legal entities in the private sector with 250 or more workers
    • all legal entities from the financial services sector, regardless of the number of workers
    • legal entities in the public sector

    The deadline for bringing into force laws, regulations and administrative provisions necessary to comply with this Directive passes on 17 December 2021.

    The EY Whistleblowing Directive will be binding for legal entities in the private sector with between 50 and 249 employees starting December 17, 2023.

     

  • What new requirements does the Directive bring for the organizations?

    The Directive lays down common minimum standards to protect whistleblowers and introduces penalties which are to be specified by the EU member states. The minimum standards include:

    • establishing confidential internal reporting channels for whistleblowers and providing easily accessible information on these channels to employees and business partners
    • designation of a person responsible for following-up on the misconduct reports
    • undertaking diligent follow-up actions (including internal inquiries and investigations)
    • acknowledgment of receipt of the report to the whistleblower (within 7 days) and providing feedback about the action envisaged or taken as follow-up (within 3 months)
    • providing employees and business partners with information on internal and external misconduct reporting channels.

  • Is EY Virtual Compliance Officer fully aligned with new requirements of the EU Whistleblowing Directive?

    Yes. EY Virtual Compliance Officer was specifically designed to help organizations satisfy the requirements of the EU Whistleblowing Directive and its transposition to local legislation in a simple and accessible way.

  • My company employs less than 50 workers. Do I have to implement a whistleblowing channel?

    Depending on the industry your company operates in, the Directive might apply even to companies employing less than 50 workers. This concerns the financial sector in particular; however, each EU Member State can decide to extend the personal scope of its local legislation to include other legal entities, based on their business activities and associated risks, and especially environmental and public health risks.

    Implementation of whistleblowing channel is worth considering regardless of the EU Whistleblowing Directive. Having one significantly increases your chances to detect misconduct and limit potential losses resulting thereof.

    Having a whistleblowing channel can help your organization gain competitive advantage. It is often expected or required by certain business partners.

     

  • Does EY Virtual Compliance Officer allow for communications with an anonymous whistleblower?

    Yes. EY Virtual Compliance Officer allows for direct communication through a confidential whistleblowing channel which is available 24/7 for employees and individuals from outside the organization. Whistleblowers who want to remain anonymous receive a unique token code allowing for further communication. This allows the organization to communicate with anonymous whistleblower, ask questions, get additional information about the reported misconduct, send or receive documents and satisfy the EU Whistleblowing Directive requirements to give feedback to the reporting person.

     

  • Why is it so relevant to ensure you have a confidential and reliable whistleblowing channel?

    This is one of the main requirements of the EU Whistleblowing Directive. Moreover, having such a channel increases a whistleblower’s trust in the company, making it more likely they will choose to report a misconduct through company’s internal channel and not opt for external reporting to authorities or a public disclosure (to which they are entitled to, based on the Directive). This will allow the organization to react faster to the reported misconduct and limit potential financial and reputational repercussions.

     

  • I already have implemented an IT solution of another provider. Can I still use EY advisory services?

    Yes. EY Forensics and Integrity Services provides a wide range of services including compliance risk assessment, the implementation of compliance management systems, analysis of reported misconducts and comprehensive support during internal investigations (including process analysis, interviews, forensics data analysis, IT forensics – e-Discovery, open source intelligence, etc.)

     

  • I already have implemented an IT solution of another provider, but I am interested in a smart document repository for employees. Can I implement this functionality alone?


    Yes. It is possible as EY Virtual Compliance Officer is composed of independent modules. Implementing the smart document repository allows your organization to share documents (such as internal regulations and guidelines) and manage the collection of affirmations, confirming that employees and business partners are acquainted with these documents.

  • I already have implemented an IT solution of another provider and all required processes. I would like to see if it works as intended – how can I do that?

    EY’s Forensics and Integrity Services team has a vast experience in auditing compliance management systems. Depending on your needs, we can help you with risk identification and assessment, updating your procedures, assisting in training and preparing related communications.

     

  • How long does it take and how much it costs to implement the EY Virtual Compliance Officer?

    The amount of time required to implement the EY Virtual Compliance Officer depends on the number of modifications requested by your organization, the number of users and other company-specific factors. Typical implementation takes 5-10 working days. Implementation is free of charge and there are no other costs besides the EY Virtual Compliance Officer subscription.

  • Can EY Virtual Compliance Officer be tailored to my organization’s needs, for example by changing logos or wording?


    Yes. EY Virtual Compliance Officer can be customized to the needs of your organization, both in terms of misconduct reporting processes, and in terms of graphics and other visual elements. For example, you can modify the contents of the misconduct reporting form so that it will better suit your key risks and company’s structure. You will be also able to change graphics and logos on the landing page.

  • What is the cost of EY Virtual Compliance Officer?

    The cost of EY Virtual Compliance Officer depends on the number of requested modifications, the number of active language versions (from the 13 languages versions currently available), the number of separate whistleblowing channels (in case of capital groups) and other individual arrangements.

    The full price is prepared specifically for each client. It is always preceded with a demonstration meeting.

    Make an appointment for a demo meeting

  • My company received a misconduct report but I do not know how to proceed with it.


    In such cases, EY Forensics and Integrity Services can help with initial assessment of the misconduct report, deciding on further actions as well as provide comprehensive support during internal investigations (including process analysis, interviews, forensics data analysis, IT forensics – e-Discovery, etc.).

  • There are numerous whistleblowing platform available on the market. Why should I choose EY Virtual Compliance Officer?

    By choosing EY Virtual Compliance Officer, you not only get an effective whistleblowing platform created by EY professionals based on global quality and security standards, but you also gain access to the knowledge and support of the biggest and most experienced forensics and compliance team in Europe. EY Forensics has unique competencies and experience in compliance and internal audit engagements across the whole region.

     

EU Whistleblowing Directive – full EY support

See how comprehensive EY solutions can help you become compliant with the requirements of EU Whistleblowing Directive and sleep easier even when you receive a misconduct report.

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EY Virtual Compliance Officer team

Our team is comprised of forensic accountants, auditors and other professional who have years of practical experience in conducting internal investigations and implementing compliance solutions, including internal regulations on fraud prevention, codes of ethics and whistleblowing infrastructure.

Thanks to our technical excelence, subject knowledge and unique competences our team can support your organizationduring every step of an internal investigation and help you to implement and strenghten your culture of compliance.