(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.