Converging Third Party Risks: Regulation, Reputation, Information
Kroll and Ethisphere once again partnered to create the Anti-Bribery and Corruption Benchmarking Report – 2018. Learn more about the strengths and weakness of ABC programs, the focus of compliance experts going forward, and whether your business is keeping pace.
For the second year in a row, third party violations top the list of perceived risks to an organizations ABC programs.
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Reputational risk is always on the minds of ethics and compliance professionals. But now more than ever, senior-level executives and boards of directors are also considering their organizations’ anti-bribery and corruption programs.
Perceptions: Why risk will increase in 2018:
- Increased enforcement of existing regulations
- New regulations
- Increased number of third party relationships
- Increase in transactions (eg M&A, JVs, investments etc.)
- Global expansion
Download the report to learn more about:
- The perceived strengths and weaknesses of anti-bribery and corruption programs
- The focus of compliance experts going forward
- Whether your business is keeping pace with common risk mitigation practices
Table of Contents
1. ABC Programs: Ongoing Challenges
- Third parties remain a major area of concern.
- Regulatory focus on individual accountability heightens personal liability concerns, drives more self-disclosure.
- Risk segmentation is key.
- ABC programs must continually evolve to maintain their effectiveness.
2. Ownership Structure Risks On The Rise
- Low confidence in ability to address ownership risks despite increased focus and controls.
- Regulatory and reputational risks driving greater focus on determining ownership.
3. ABC After Onboarding: Monitoring and Data Refresh
- Regulators have made ongoing monitoring a baseline expectation.
- Monitoring can mean different things to different organizations.
- Data refresh is increasingly a factor in risk mitigation and defense.
4. Mergers and Acquisitions
- Regulatory expectations are not being consistently met.
5. New Resources Emerge as ABC and Enterprise Risks
- Information security challenges and opportunities.
- ABC programs getting greater investment, but shortfalls still exist.
- Executive leadership support critical for an effective ABC program.