Merrill Brink News Reviews and Opinion on Jan 20, 2015: The Importance of Language Localisation in Effective Anti-Corruption Compliance
London, UK (PRWEB UK) 20 January 2015 -- As anti-corruption awareness continues to gain momentum worldwide, companies of all sizes are working to create an effective anti-corruption compliance programme that prevents potential violations and satisfies regulatory requirements. What procedures and programmes should a company put in place to assess and respond to charges of fraudulent practices, and also, actually minimise such risks in the first place?
The U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) have provided considerable guidance to help companies comply with the U.S. Foreign Corruption Practices Act (FCPA). FCPA compliance is important to not only U.S.-based, but also to foreign companies whose American Depository Receipts (ADRs) trade on U.S. financial exchanges.1 Additionally, the FCPA has served as a foundation for other programmes such as the UK Bribery Act and the 1998 OECD Anti-Bribery Convention (“OECD Convention”). As of May 2013, 40 member countries have ratified or acceded to the OECD Anti-Bribery Convention.2
Whilst many companies are making progress in developing anti-corruption programmes, one area remains a challenge for multinational, multi-country firms – how to effectively ensure that all employees are thoroughly trained in compliance. For these companies, language localisation is a critical step to prevent and detect corrupt practices.
Language Translation as a Detection Tool
For companies accused of paying bribes in a foreign country, an important first step is to gather all communications that may pertain to the investigation. However, very often, much of the documentation is written in multiple foreign languages. The first instinct may be to ask a bilingual employee to translate the documents or consider using online translation software, but either approach is risky.
Due to the high stakes involved in anti-corruption investigations, translations should be performed by a qualified language service provider (LSP) capable of issuing a certificate of accuracy (COA) to confirm that the documents have been faithfully translated to impart the precise meaning of the English-based ethics and compliance policies.
Language Translation as a Preventative Tool
Even if the company has a global English language use policy in place, simply providing employee anti-corruption training in English will not be sufficient. In the U.S., for example, FCPA guidance makes it clear that the government expects language localisation to be used. The best way for companies to show compliance and minimise risk is to translate and localise all compliance-related documentation into employees’ local languages.
Choosing the Right Translation Provider
Often, local stakeholders may suggest using “in-country” resources such as bilingual employees to perform the translations. In-country resources can be valuable partners in reviewing translated content to ensure it meets local standards, but experts recommend using both an LSP and internal resources for effective translations.
It is also important to engage an LSP with specific subject matter expertise in UK Bribery Act and FCPA ethics and compliance translation and localisation. The support of a service provider with a solid anti-corruption/anti-bribery focus is one of the most important components in developing a well-rounded compliance programme.
References:
1 “Foreign Corrupt Practices Act: Four Practical Steps to Minimising FCPA Risk in Cross-Border M&A,” Merrill Brink, 2012.
2 Wikipedia: http://en.wikipedia.org/wiki/OECD_Anti-Bribery_Convention#Members
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Vanessa Lontoc, MerrillBrinkInternational, http://www.merrillbrink.com, +1 (917) 720-5598, [email protected]
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