ANTI-CORRUPTION, COMPLIANCE, RISK PREVENTION

WHAT

Corruption and other financial crimes can be prevented and detected by means of sound internal controls, thorough analyses, and dedicated checks.

Having sound internal controls implies an overarching, risk-based programme, often refered to as a compliance or anti-corruption programme. To be able to prevent corruption, companies must fully understand the risks of corruption within their business operations.

WHY

Preventing corruption is an important part of doing responsible business. Corruption undermines good governance and economic development, and distorts international competitive conditions.

For a company, the potential consequences of corruption include financial, legal and social costs such as legal sanctions, loss of revenue, reputational damage and loss of market share.

The legal framework for anti-corruption is dominated by international conventions, the US Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act, which are widely enforced anti-corruption laws with strict sanctions and global coverage. In addition, many countries have established national Penal Code provisions on bribery.

HOW

Corruption risks can be managed by different strategic approaches, including avoidance, control, mitigation, transfer and acceptance of risk.

To prevent corruption, risk identification and mitigation are key elements. How the company organizes its anti-corruption work is important, so is the culture and awareness amongst employees and their ability to identify red flags indicating potential corruption.

Further information and contact details:

RBA has established a partnership with BDOs Forensic Services unit. BDO compliments services provided by RBA, in particular within anti-corruption.  

Anti-corruption services 

  • Country risk analyses with focus on corruption risks

  • Risk assessments

  • Operation of a whistle-blowing channels and follow-up of reported concerns

  • Conducting background checks (due diligence) of people and companies

  • Third-party audits

  • Evaluation of compliance and anti-corruption programmes etc.

  • Development and improvement of compliance programmes, including the design of policies and procedures

  • Training

  • Investigations

 

Our resources

BDO’s compliance and investigation team comprises experts from different backgrounds with extensive experience, and is one of leading forensic services providers in the Nordics. The experience of the multidisciplinary team includes:

  • Prevention of financial crime and corruption

  • Investigation

  • Work for the Police/Public prosecution authorities (Økokrim/Kripos)

  • International experience

  • Digital forensics

  • Law

  • Financial Audit

  • Internal Audit

  • Internal controls

Responsible Business Advisors

c/o Scanteam AS, Tordenskioldsgate 2, P.O.Box 593 Sentrum, NO-0106 Oslo, Norway

Org. no.: 956 759 978 MVA

 

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