Governments as well as international organizations have outlined the key elements of an effective compliance program, however many companies still fall short in implementation and as a result, face legal, reputational and financial consequences.
WASHINGTON, D.C. (PRWEB) October 29, 2015
The Center for Responsible Enterprise And Trade (CREATe.org) today releases a whitepaper, “Why Anti-Corruption Programs Fail: Turning Policies into Practices.”
The paper outlines the top 10 reasons compliance programs fail – ranging from failure to assess and understand risks, lack of leadership and insufficient resources to gaps in training and third party management, to name a few. It also provides practical steps to help companies commit, communicate and embed a compliance program across an organization. This covers topics ranging from aligning incentives to anti-corruption compliance, to use of technology, reporting and monitoring techniques, among other recommendations.
Corruption poses significant risks for companies today. The Foreign Corrupt Practices Act (FCPA), United Kingdom (UK) Bribery Act and other anti-corruption laws apply to the conduct of employees and third parties alike. Governments as well as international organizations have outlined the key elements of an effective compliance program, however many companies still fall short in implementation and as a result, face legal, reputational and financial consequences.
“CREATe.org’s work with companies and their third parties around the world has provided us with insights into how companies are most vulnerable to the risks of corruption,” stated Pamela Passman, President and CEO of CREATe.org. “This whitepaper outlines practical steps companies can take to make their compliance programs a success.”
This whitepaper builds on CREATe’s other resources for anti-corruption. This includes the whitepaper: Addressing Corruption Risk Through Enterprise Risk Management (2014); an overview of international Anti-Corruption Guidelines; and a preview of the ‘Guide to Improving your Anti-Corruption Program,’ a 200-page reference for companies participating in CREATe Leading Practices for Anti-Corruption.
For more information, please email info(at)CREATe(dot)org.
Please visit https://create.org/resources/ to download the whitepaper.
Founded in October 2011, the Center for Responsible Enterprise And Trade (CREATe.org) is a non-governmental organization (NGO) helping companies prevent piracy, counterfeiting, trade secret theft, and corruption.
Our mission is to make leading practices in IP protection and anti-corruption achievable for all companies. To achieve this mission, we have developed CREATe Leading Practices for IP Protection, CREATe Leading Practices for Trade Secret Protection and CREATe Leading Practices for Anti-Corruption. These services are based on best practices drawn from multinational companies, academics, international and business organizations.
Building on decades of work across the business community on quality assurance, health and safety and other issues, CREATe takes a management systems approach to helping companies implement the internal business processes they need to effectively protect intellectual property (including trade secrets) and prevent corruption.
Companies around the world are using CREATe Leading Practices to benchmark and improve systems for the protection of IP and trade secrets, and also for anti-corruption. CREATe Leading Practices for Anti-Corruption is available in Chinese, English, Portuguese and Spanish.
For information about CREATe.org, email: info(at)CREATe(dot)org. Please follow us on Twitter @CREATe_org or connect with us on LinkedIn.
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Director of Marketing and Communications