Managing Corruption Risk

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Board Perspectives: Risk Oversight, Issue 21 - How to Avoid the Costly Consequences of Corruption Violations with a Robust Anti-Corruption Program

Consequences of corruption violations include criminal and civil enforcement actions, profit disgorgements, mega fines, and suspensions from government contracting, jail terms for employees and reputation-damaging headlines. To avoid these consequences, firms should consider an anti-corruption program intended to prevent, deter and detect improper payments by employees and agents.

Companies should establish risk-based policies and procedures that provide reasonable assurance the organization and its agents are adhering to the provisions of applicable anti-corruption laws, and implementing adequate systems of internal controls. This issue of Board Perspectives: Risk Oversight shares how a robust anti-corruption program can save companies from the expensive consequences of corruption violations.

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