Newsletter | Volume 1

Asian business leaders will gather to get guidance on Fraud, anti-Corruption & Investigations at the at the 3rd Annual Summit in Hong Kong from the 2-4th November 2015, to discuss the serious bribery and anti-corruption problem, that continue to be prevalent in many countries and hinders business growth & development.

Corruption is a complex social, political and financial situation that affects many countries and companies. The complicated management includes issues related to upgrading technology, big data, and quality business intelligence questions to combat corruption. Both complexities continue to worry organizations of all trades and sizes, due to the continued change in regulatory compliance, globalization, distributed operations, risk management processes, the competitive force from emerging economies, 3rd party business relationships.

Increased complexity
The combined complications of both business processes and anti-corruption management are in focus due to the increased demand for accountability and transparency and greater corporate social responsibility. New Asian, EU and OECD mandates and directives to comply with the UKBA and FCPA, will require that companies report on exactly what policies, processes and procedures they have in place that prevent bribery, fraud and corruption (BFC).

The new regulatory requirements on bribery and anti-corruption need all global companies to address these issues. The anti-corruption component of the guideline is that businesses must report on their corporate social responsibility - including their activities to combat corruption.

Anti-bribery and corruption issues are now key components of standard global business practices. However, corruption risks and opportunities can be linked to corporate values through a structured approach that provides value creation and the enforcement of integrated sustainability components to the enterprise.

Challenges and complexity The above anti-bribery and corruption challenges require simple, yet sophisticated and comprehensive governance structures. During the conference, we will provide examples on how to synchronize the above components to prudent GRC management with recommendations that aim is to manage complexity and change.

When the oversight authorities start an investigation, it generates significant challenges to the board of directors, senior executives, management and risk and governance managers that are made responsible to document the measures taken to document adequate procedures to combat corruption.

Structured methodology to benchmark your anti- corruption and CSR program
Compliance to the FCPA (The Foreign Corrupt Practices Act of the USA, 1977) and UK Bribery Act (2012) often mean different things to different people. However non-compliance to FCPA and UK Bribery Act and related international mandates mean that dreadful things happen-even to good companies. The results often look depressingly similar, with massive fines, damaging press coverage and an awful hit to the company brand.

The list of highly reputed firms that have got themselves into this mess is increasing.

Previously, disclosures were often prepared by the marketing department, with platitudes and expensive idealistic wishful thinking programs. Nowadays such disclosures are things of the past because the FCPA and the English Bribery Act both have global jurisdiction and are quite comprehensive in scope. Therefore, corporate entities must allow for a proper and structured start in building an effective compliance program to fight corruption, both within their organization and among business partners and third parties.

Secretary General Kersi F. Porbunderwalla, Copenhagen Compliance will conduct a Bribery and anti-Corruption workshop at the 3rd Fraud, Corruption & Investigations Asia Summit in Hong Kong on the 3rd November 2015. The title is; How to Develop and Implement a Successful Bribery, Anti-Corruption and Fraud Compliance Program.

How to gain buy-in for the anti-corruption program from the board and senior management
How to conduct adequate bribery and anti-corruption risk assessments
A case-based exercise that focuses on practical steps to follow, when developing, implementing, updating and refining bribery and anti-corruption programs.
- Deep dives into real-life bribery and anti-corruption compliance scenarios

http://apac.misti.com/event-details?EVENTID=5195&ORGCODE=20