Continental Message Solution’s Whistleblower Compliance Hotline Service, also referred to as a Fraud and Ethics Hotline, is a third-party incident reporting solution. The hotline functions as a safe, anonymous means for employees and stakeholders to file complaints and report suspicious activity.
Does My Company Need a Whistleblower Compliance Hotline?
The Sarbanes-Oxley (SOX) act requires all publicly traded companies implement a confidential, anonymous way for whistleblowers to inform the company of suspicious accounting practices. The law is intended to protect investors from accounting scandals like Enron and WorldCom.
A whistleblower compliance hotline is one way a company can comply with the Sarbanes-Oxley Act.
Are Private Companies Required to Use a Whistleblower Hotline Service?
According to SOX, privately held companies do not need to comply. However, SOX does have provisions that directly affect privately held companies and in 2014 the Supreme Court ruled in favor of extending whistleblower protection to contractors.
The whistleblower provisions in SOX essentially make it illegal to retaliate against whistleblowers who provide accurate information to law enforcement authorities. Because of this many privately held companies have chosen to adopt an anonymous reporting system to ensure compliance with SOX’s whistleblower provisions.
Can it Function as More Than a Whistleblower Hotline?
Yes. Our whistleblower hotline can serve a number of different functions. As an anonymous employee hotline, CMS provides your company a way to empower your employees and leadership, uncover problems and take action faster, and improve workplace satisfaction and retention.
With our confidential phone and web-based reporting, you can ensure your company is compliant with SOX and provide a means to uncover problems. Continental Message Solution’s whistleblower hotline give you the ability to take action before it’s too late.