Antibribery risk assessments are key to helping your company understand the specific corruption risks that it faces and determining how to fine-tune your compliance program to address and mitigate those risks. But convincing your organization to invest in an antibribery risk assessment, and deciding how such an assessment should be carried out, can be challenging. Below are some practical questions that corporate counsel can ask as they navigate the process of antibribery risk assessment.
Why does my company need to conduct an antibribery risk assessment?
Corporate counsel have several resources to point to to justify the effort and expense of an antibribery risk assessment. The U.S. government’s Resource Guide to the U.S. Foreign Corrupt Practices Act (FCPA) lists risk assessments as a hallmark of an effective compliance program, describing these assessments as “fundamental to developing a strong compliance program” and a factor in determining potential FCPA-related fines for a company.
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