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Key factors to consider in any board-led investigation

Tom Fox | March 14, 2018

Many companies have an investigation protocol in place when a potential Foreign Corrupt Practices Act or other legal issue arises. Many boards, however, do not have the same rigor when it comes to an investigation, which should be conducted or led by the board itself. The consequences of this lack of foresight can be problematic, because if a board does not adequately conduct an investigation, the consequences to the company, its reputation, and value can be quite severe.

Consider these key factors:

Robustness: The robustness of an internal investigation—or lack thereof—could turn into an issue when dealing with regulators. The one thing you do not want to hear is the dreaded “where else?” question. A good tip is to ask yourself: Have you secured all documents and electronic files?

Independence: Any investigation seen as lacking objectivity will be viewed by regulators as inadequate or deficient. This objectivity requirement is...

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