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What is due diligence?

Tom Fox | June 18, 2018

Most companies fully understand the need to comply with the Foreign Corrupt Practices Act requirements around third parties, as they represent the greatest risks for an FCPA violation. Most companies, however, are not created out of new cloth but are rather ongoing enterprises with a fully up-and-running business in place. This means they may need to bring resources to bear to comply with the FCPA while continuing to operate an ongoing business. This can be particularly true in the area of performing due diligence on third parties. Many companies understand the need for a robust due diligence program to investigate third parties, but they struggle with how to create an inventory to define the basis of third-party risk and thereby perform the requisite due diligence required under the FCPA.

Getting your arms around due diligence can sometimes seem bewildering for the compliance practitioner. A business justification and questionnaire aimed at a potential third-party in your...

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