In our experience the following typical needs arise for the establishment of requirements in the field of compliance and business integrity, for which we also have developed and practically tested approaches with which we would be happy to support your company:
- Establishment of a comprehensive, formalized program of compliance and business ethics, that meets the expectations of regulators, international business partners, international institutions and other stakeholders. The main principle we follow here, taking into account established international standards and practices in this field, is to follow the existing organization of your business processes and proportionality to risks, according to your activity, geographical presence, business model, products and value chain.
Experience convincingly teaches us that only a compliance and ethics program that takes into account the characteristics and culture of your organization and is integrated into your business processes in an understandable and proportionate way can work effectively to achieve the ultimate goal: to operate in harmony and ethics. You also achieve economic and other business benefits (ethical premiums), due to the improved reputation of a safe, credible and trustworthy organization, from the inside out.
- Establishment of a specific element or specific area of the compliance program, such as: compliance system for external contractors, suppliers and agents, compliance risk assessment system and business ethics, conflict of interest and corruption prevention system, establishment of compliance with specific sectoral legislation or changes in sectoral legislation (regulatory compliance, eg prevention of money laundering and terrorist financing, changes in sectoral regulations, EU regulations, etc.). In the process of preparing the organization for new legislation or we use an imaginative process of 5 steps of adaptation to regulatory changes, among which we attach special importance to assessing the effects of these changes on the company and creating an appropriate action plan for all relevant areas of business.
- Compliance with the requirements of regulators and institutions, including international bodies or institutions, for cases of negative findings in supervisory procedures, legal violations or violations related to international business, blacklisting of international financial institutions (WBG, EIB), etc.