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Using investigative findings as the basis of remediation

Tom Fox | February 4, 2018

There is nothing like an internal whistleblower report about an FCPA violation, the finding of such an issue or (even worse) a subpoena from the Justice Department to trigger the board of directors and senior management attention to the compliance function and the company’s compliance program. Such an event can trigger much gnashing of teeth and expressions of outrage followed immediately by proclamations “We are an ethical company.” However, it may well be the time for a very serious reality check.

One of the things rarely considered is how the investigation triggers the remediation process and what the relationship is between the two. It is axiomatic that you cannot finds gaps in your compliance system until you stress test it. Viewed in this light, your compliance failures can be viewed as such a stress test. If you have a compliance failure, that can be viewed as a stress test, which went to failure. Your investigation will raise information to you about the failures of...

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