Successful compliance policies identify risk based on business realities. Today, compliance officers face unprecedented and mounting challenges as businesses realities shift in response to the on-going crisis. Critical compliance processes are in jeopardy: conducting internal investigations, due diligence processes, trainings protocols, approval requirements and audits and assessments will all likely be impacted by the significant changes to the global working environment. And these challenges arise at a time when the need for robust compliance controls is at its highest: times of crisis have always bred misconduct from corruption to self-dealing to accounting irregularities to sanctions violations. Companies and business units facing financial and logistical difficulties are more prone to misdeeds.
How can compliance departments navigate these unprecedented times while maintaining effective internal controls?
To assist our clients in managing this changing landscape, RK&O is issuing a series of short, practical pieces discussing specific compliance risk areas. In this series, RK&O compliance and enforcement advisors will provide thoughtful analysis and practical risk mitigation strategies for identifying weaknesses and adapting compliance controls to navigate the risks and opportunities of this new era. To subscribe to our mailing list for future publications, please click here.