The Most Important Compliance Best Practices You Need to Know

In the two most recent corporate Foreign Corrupt Practices Act (FCPA) enforcement actions, the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) to communicate not only what they believe constitutes a best practices compliance program but equally importantly what actions a company can engage in which will significantly reduce a company’s overall fine and penalty. These matters involved Parker Drilling Company (Parker Drilling) and the Ralph Lauren Corporation. Parker Drilling received a Deferred Prosecution Agreement (DPA) and Ralph Lauren sustained a Non-Prosecution Agreement (NPA).

Republished from FCPA Compliance and Ethics Blog with kind permission of the author.

The Bribery Act 2010 (UK) makes bribery a criminal offense and follows the benchmark set by the US Foreign Corrupt Practices Act (FCPA). The Act makes bribery of foreign public officials an offense. It extends beyond company employees to include third parties acting on behalf of a company.

This article gives the best practices that multi-national companies can follow in order to achieve compliance.

Prevention is better than the cure when it comes to fraud as organizations around the world lose around 5% of their annual revenues to corporate malpractices. So how can a financial services organization create an effective anti-fraud policy to prevent such losses? What are the factors to be taken into consideration when drafting such a policy?

This article gives the best practices to follow when drafting an anti-fraud policy for financial institutions.

Compliance provides added value in a corporation and builds the company's brand, competition and reputation. With proper implementation and monitoring of compliance, risk assessment, improvement of internal controls and reporting standards and mechanisms, ensuring security of IT information becomes improved. Therefore, one should learn the tools of evaluating efficiency of ethics and compliance projects and the Self assessment and Evaluation tool is just the right kind of tool that will help implement Compliance activities in your company.

Improved Corporate Governance policies help improve relationships among the many stakeholders involved and also help reach goals for which the corporation is governed. Being cognizant of the significance of Corporate Governance policies, the present article provides its readers with an amazing 10 step self evaluation tool in order to improve corporate government policies.