CAILYN IS BACK! And Amanda is bringing the 2020 Hotline Benchmark Report to her!!
Check out more episodes and full episode videos at ComplianceLine.com, and don’t forget to subscribe on your favorite podcast platform!
Day: July 16, 2020
Auditing of third-parties is critical to any best practices compliance program and an important tool in operationalizing your compliance program. This is a key manner in which a company can manage the third-party relationship after the contract is signed and one which the government will expect you to engage in going forward. As stated in the 2020 Update, under the section entitled, Management of Relationships, is the following query, Does the company have audit rights to analyze the books and accounts of third parties, and has the company exercised those rights in the past? This means you must not only have audit rights but also exercise them.
You should plan out the audit four to six weeks in advance, you should perform the audit with your legal counsel’s lead to preserve privilege, work with the Relationship Manager to establish key business contacts, discuss audit rights and processes with the third-party, you should prepare initial document request lists for financial information queries, take the time to review findings from previous audits and resolutions and also review details of opened and closed internal investigations, if there are any Code of Conduct questionnaires available take care to review and, finally, be cognizant of any related DOJ and SEC enforcement actions.
Three key takeaways:
- Be prepared.
- It is not an investigative interview but an audit interview.
- Listen, listen, and listen.
Richard Lummis and Tom Fox continue their five-part series on leadership lessons from Theodore Roosevelt. We will look at lessons from Roosevelt’s early years in New York up to his cowboying days in Montana; the second phase of his public career, from NYC Police Commission to Assistant Secretary of the Navy, San Juan Hill and the Vice Presidency; his leadership from his Presidency; his life in the post-Presidency and the election of 1912 and we will end with leadership lessons from his post Bull Moose Party life, World War I and event surrounding his death. In this second episode, we consider the leadership lessons learned by Roosevelt in the second phase of his political career, which took him from Police Commissioner of NYC to the Vice Presidency.
Highlights of this podcast include:
What led to appointment to New York Civil Service Commission and then to the NYC Police Commissioner? His move to the National Stage as the Assistant Secretary of the Navy. This led to his work in the War with Spain and Admiral Dewey in Manilla Bay. He founded the Rough Riders, his leadership in Cuba and ride up San Juan Hill. He becomes Governor of New York. This leads to joining the McKinley ticket in the election of 1896 and becoming Vice President. We conclude with three key leadership lessons, including: 1. Pick yourself up when you fall; 2. Find a cause; and 3. Communicate Simply and Directly Through Stories.
Resources
Doris Kearns Goodwin’s 10 Leadership Lessons from the White House
6 Leadership Hacks From The Rise of Theodore Roosevelt
10 top Leadership Principles of Teddy Roosevelt
The Roosevelts: Eight presidential lessons in leadership
Lessons in Leadership from 100 years ago
Theodore Roosevelt on Leadership
10 Theodore Roosevelt Leadership Lessons
Welcome to the only roundtable podcast in compliance. Today, we have the full quintet of Jonathan Armstrong, Jay Rosen, Matt Kelly, Jonathan Marks and Mike Volkov sitting in to discuss various aspects of the Novartis settlements and ending with a veritable mélange of rants and shouts outs.
- Jonathan Armstrong critiques the ongoing corruption in the pharma industry and implores the industry to do business differently. Instead of a shout out, he asks that we each reach out to someone who has been laid off during the Coronavirus crisis and check in with them.
- Jay Rosen considers the Novartis FCPA settlement from the recidivist angle, noting that the Swiss company joins an ignominious list of multiple FCPA offenders. Rosen rants against the Trump Administration’s attempt to strip visas from foreign students who are studying remotely.
- Matt Kelly considers the data analytics angle from the Novartis enforcement action and how it instructs a compliance professional on how to use data analysis. He shouts out to the new CEO of Wirecard, named 24 hours after taking over the CCO chair at the embattled company.
- Mike Volkov looks at False Claims Act settlement by Novartis (as opposed to the FCPA settlement). He shouts out to Chief Justice John Roberts who only dissented in two decisions from the court’s most recent term.
- Jonathan Marks looks at the Novartis settlement from the internal controls and accounting perspective. He also asks if there are any Caremark claims against the Novartis Board of Directors. He shouts out to the genius who invented the phrase “Document Document Document!”
The members of the Everything Compliance are:
- Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
- Mike Volkov – One of the top FCPA commentators and practitioners around and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com
- Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
- Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
- Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at marks@bakertilly.com
The host and producer (and sometime panelist) of Everything Compliance is Tom Fox the Compliance Evangelist. Everything Compliance is a part of the Compliance Podcast Network. He can be reached at tfox@tfoxlaw.com
