With some of Germany’s best-known companies rocked by bribery and corruption scandals in recent years, the danger of a compliance system failure has become a growing concern inside the country’s boardrooms.
German companies have been investing to improve their compliance systems in response and have turned to audit firms for help designing them and for assurance that they are suitable. But the firms have been reluctant to provide that certification, given the lack of any standards covering such work and the potential liability should a system subsequently fail.
