“Brazil’s new anti-corruption law reflects a continuing trend toward tougher compliance standards in South America and throughout the world. This strategic acquisition of Conformity signals our commitment to serving our clients,” comments Brian Loughman.
New York, NY (PRWEB) June 16, 2014
Ernst & Young, the EY member firm in Brazil, has acquired Conformity, a Curitiba, Brazil-based consulting firm that provides a technology platform that can enhance ethics management and compliance reporting for clients. This deal strengthens EY Fraud Investigation & Disputes Services (FIDS) offerings in South America, where companies must now comply with Brazil’s Clean Companies Act.
Conformity has a strong reputation for providing clients with an effective approach to reporting on ethics management and overall compliance through data visualization tools. "Conformity’s advanced technology and skilled professionals allow EY to strategically expand our service offering to clients not only in Brazil, but across South America," says José Compagno, the FIDS Leader for EY Brazil. “Beyond addressing the rigorous obligations of the Clean Companies Act, more companies in South America are proactively investigating fraud and corruption and our acquisition of Conformity is designed to meet the needs of these clients.”
Twenty-two professionals from Conformity are joining the FIDS practice in Brazil, building upon EY’s existing foundation of anti-bribery and corruption services.
“This purchase joins Conformity’s talented professionals and valuable technology offerings with EY’s leading global practices in compliance,” says Marcos Turbay of Conformity. He will assume the position of Principal, responsible for management of ethics and compliance programs in EY Brazil’s FIDS practice.
The compliance landscape in Brazil changed dramatically this year with the implementation of the country’s first anti-corruption law, known as the Clean Companies Act. This legislation is significant because it imposes obligations on foreign and domestic companies operating in Brazil and related measures they need to take in stemming bribery and corruption issues.
“Brazil’s new anti-corruption law reflects a continuing trend toward tougher compliance standards in South America and throughout the world. This strategic acquisition of Conformity signals our commitment to serving our clients,” comments Brian Loughman, EY Americas Leader for FIDS. “We are excited to bring on the skilled team from Conformity as more companies are understanding the importance of corporate compliance programs, in both preventing fraud and mitigating the potential consequences.”
About EY’s Fraud Investigation & Dispute Services practice
Dealing with complex issues of fraud, regulatory compliance and business disputes can detract from efforts to succeed. Better management of fraud risk and compliance exposure is a critical business priority – no matter what the industry sector is.
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This news release has been issued by Ernst & Young LLP, a member firm of EY serving clients in the US.