Jan 24, 2022 | 31 Days to More Effective Compliance Programs
One of the critical elements found in the 2020 Update is the need to use the information you obtain, whether through risk assessment, root cause analysis, investigation, hotline report or any other manner to remediate the situation which allowed it to arise. Your...
Jan 23, 2022 | 31 Days to More Effective Compliance Programs
What happens when controls are continually overridden? Does that necessarily mean that companies are engaging in activities which violate the FCPA or some other law such as Sarbanes-Oxley (SOX). Cristina Revelo said she would start out with some basic questions such...
Jan 22, 2022 | 31 Days to More Effective Compliance Programs
The call, email or tip comes into your office; an employee reports suspicious activity somewhere across the globe. That activity might well turn into a FCPA issue for your company. As the CCO, it will be up to you to begin the process which will determine, in many...
Jan 21, 2022 | 31 Days to More Effective Compliance Programs
The 2020 Update was very clear about the need for continuous improvement in any compliance program. It stated quite succinctly, “One hallmark of an effective compliance program is its capacity to improve and evolve. The actual implementation of controls in practice...
Jan 20, 2022 | 31 Days to More Effective Compliance Programs
There is nothing like an internal whistleblower report about a compliance violation, the finding of such an issue, or (even worse) a subpoena from the DOJ or notice letter from the SEC to trigger the Board of Directors and senior management attention to the compliance...
Jan 19, 2022 | 31 Days to More Effective Compliance Programs
After the internal report comes in and you have properly triaged the matter, you need to scope out and investigate it, promptly, thoroughly and with competent personnel. In the 2020 Update, provided these series of questions about your internal investigations:...
Jan 18, 2022 | 31 Days to More Effective Compliance Programs
Due diligence is generally recognized in three levels: Level I, Level II and Level III. Each level is appropriate for a different level of corruption risk. The key is to develop a mechanism to determine the appropriate level of due diligence and then implement that...
Jan 17, 2022 | 31 Days to More Effective Compliance Programs
The building blocks of any compliance program lay the foundations for a best practices compliance program. For instance, in the life cycle management of third parties, most compliance practitioners understand the need for a business justification, questionnaire, due...
Jan 16, 2022 | 31 Days to More Effective Compliance Programs
As every compliance practitioner is well aware, third parties still present the highest risk under the FCPA. The 2020 Update devotes an entire prong to third-party management. It begins with the following: Prosecutors should also assess whether the company knows the...
Jan 15, 2022 | 31 Days to More Effective Compliance Programs
After you complete your risk assessment, you must then translate it into a risk profile. If your estimate of where your bribery risk is greatest is wrong, it will be an effort to address it. As Ben Locwin explained in his BioProcess International article, entitled...
