Why it is important
Under foreign anti-corruption law, a fine can be imposed on a company with an inadequate corruption prevention system, even though no actual bribery took place.
How we can help
We develop a corruption prevention system that complies with applicable anti-corruption laws: Ukrainian legislation, FCPA (US), 2010 UK Bribery Act, etc.
What we do
- We assess the level of corruption risk in the business processes of each client by singling out major business processes, analyzing regulatory documents, and conducting employee interviews.
- We assess already existing anti-corruption measures from two angles: design (according to internal policies) and operational efficiency (how it actually works). In order to carry out such assessments we analyze accounting entries and examine primary documents.
- We develop (or improve the already existing) a corruption prevention system: improve old and implement new controls, recommend responsible individuals, and amend corporate policies. When doing this we consider the requirements of major anti-corruption laws: FCPA (US), the 2010 UK Bribery Act, applicable national legislation (depending on the client’s country of presence) as well as regulatory recommendations and international compliance standards (ISO).
- As soon as the controls are implemented we train the client’s employees on how to work with them: we prepare e-trainings for all staff and conduct in-class trainings for top-management.
What you get
- Effective compliance controls minimize risks of material and reputational losses.
- The overall corporate compliance culture is improved.
- The corruption prevention system complies with anti-corruption laws.
- Employees understand major corruption prevention requirements as well as their importance.
- Employees are comfortable working with internal control measures within their areas of responsibility.
- In a few months after the project completion, we may assess how the new procedures operate and suggest changes in the processes if it may require.
- We can also check whether counterparties and company’s business partners comply with applicable anti-corruption laws. Such check is vital to conduct before any M&A deal so that inherited risks are minimized.