This week, over a five-part podcast series, we have considered some of the basic questions around monitors and monitorships. I have been joined in this exploration by Jay Rosen, the Vice President of Business Development and Monitoring Specialist at Affiliated Monitors, Inc. who is the sponsor of this podcast series. In this series we introduced the role of independent integrity monitors and corporate monitorships; discussed both pre-settlement and post-resolution monitorships and their different applications; and listed out some of the considerations a company should take in hiring a monitor. Today, in our concluding Part 5, we look at cost issues when hiring a monitor and how a company can work to ameliorate them.
Some of the highlights from this podcast include:
- What will be the overall scope of the monitorship?
- What will be the frequency of engagement by the monitor?
- What will be the duration of the monitorship?
- What is the experience of the monitor and how does that play into overall costs?
- How you can work through cost control issues by using a robust monitor’s Workplan?
- How selective sampling is a powerful tool and why it can be a cost-saving measure.
For additional reading see Jay Rosen’s article How Much Will a Corporate Monitorship Cost? on Corporate Compliance Insights.
For more information on Affiliated Monitors, Inc. visit their website here.