This whitepaper defines CA/CM and focuses on key drivers that influence investment decisions to implement and refine an organization’s CA/CM capability. The publication also describes the benefits that result from successful CA/CM initiatives.
Nearly two-thirds of executives globally say they are focused on converging their company’s many disparate Governance, Risk and Compliance (GRC) initiatives, to improve risk management and reduce costs, according to a global survey by KPMG International.
By Leslie McCarthy, Director at The Steele Foundation
The fact is that there are “best practices” for the execution of due diligence, including basic standards and principles familiar to any investigative professional. These common ingredients underpin a credible FCPA due diligence program and stand up to scrutiny and potential litigation.
While the FCPA provides no ready “checklist” or timetable for acceptable and compliant levels of due diligence, there are norms that demonstrate legitimate commitment to regulatory accountability. Corporate due diligence investigations can vary depending on international legal constraints and practice; internal budgets and ethical codes; resources and case management tools; spirit and letter of the law as it applies within a given company’s particular industry sector. The standard for what constitutes “adequate” compliance is not set in stone and can’t be, at least in some respects, but there are without doubt meaningful guideposts and principles of which corporate leadership must be aware in order to maintain adequate fiduciary, ethical and practical standards of care.
The following white paper, which incorporates a wide variety of source material and primary interviews with compliance officers, legal counsel, government, law enforcement and experts in the field of corporate compliance and ethics, provides baseline terms and goals for compliance-driven due diligence programs which are necessary to vet third parties. Although particular emphasis has been placed on the FCPA’s specific strictures, the discussion and standards outlined herein may be considered across the spectrum of laws and regulations, both domestically and abroad.
Deloitte has released its latest whitepaper on risk management, entitled “Risk Intelligence in a Downturn: Balancing risk and reward in volatile times”. The new Deloitte research whitepaper is available for download to all CCI readers.
