how to early detect corruption issues

How to Early Detect a Corruption Issue

Michele La Neve http://laneve.me

Being Proactive

• Based on practical experience, whenever there is a trace of misconduct in a company’s financial statements, it usually too late for being proactive.

• It is quintessential establishing internal controls and training to avoid such issues.

• Disclosing voluntarily any misconduct may be perceived favourably by the Court. (especially after having reported to the U.S. Attorney General, see FCPA)

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Whistle blowing program, a virtuous circle

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Training

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Cont’d

• Knowing local uses is usually very beneficial, especially while working in Countries with higher corruption levels; what locally is perceived as a business gift, might be considered a bribe by Domestic Authorities.

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Red Flags

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Risk Mitigation

• Nowadays hiding the payment of a bribe is becoming more and more difficult, besides legal provisions are severe; consequently, disclosing voluntarily any possible misconduct to the relevant authorities is an efficient way to mitigate risks.

Michele La Neve http://laneve.me