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Use Cases: Compliance and Ethics

Ethics Programs

Properly designed ethics programs can reduce financial and reputation risks for an organization.  Verracy can help you establish a comprehensive ethics program, including the design, development, and implementation of a code of conduct, training programs, and hotlines.

Verracy also helps companies reduce their risk of ethical failures by conducting comprehensive assessments of existing company ethics and integrity programs and measuring the impact of company ethics and compliance activities. We examine and benchmark practices against best practices of similar organizations within an industry and identify ways to improve program effectiveness.

Vendor and Third-Party Risk Management

Third-party reliance is a significant risk for many organizations. Verracy can assess third-party relationships to assure compliance with your existing procedures and expectations, including contract and procurement procedures, contractual terms and conditions compliance reviews, cost recovery audits, and third-party due diligence practices (including Know Your Customer [KWO] processes), and we can recommend best practices and process improvements.

The 2020 COVID-19 pandemic has impacted all organizations. Verracy can help your organization establish ongoing monitoring and due diligence practices to ensure existing third-parties are able to continue meeting expectations and commitments post pandemic.

Board and Audit Committee Responsibilities

We work closely with board members to provide continual education and conduct corporate governance assessments as well as provide design and implementation services. We also develop monitoring protocols and strategic organization frameworks designed to help companies transition through various business cycles.

Conflicts of Interest

Conflicts of interest can have a significant impact to your bottom line, leaking crucial margins. Do you suspect self-dealing or kickbacks related to your procurement or vendor management?

Verracy can provide a risk assessment and perform data analytics to help identify potential problems. And, based on the results, we can design, develop, and implement programs to mitigate and prevent the risk.

Training Workshops

Verracy is a recognized world-class training provider that delivers pertinent, practical, and relevant skill development for professional organizations and global corporations around the world. See what courses we have available.

Whistleblower and Hotline Programs

When and where it is implemented, an internal whistleblower hotline is a critical component of a company’s anti-fraud program, as tips are consistently the most common method of detecting fraud. It is more critical than ever that organizations have effective whistleblower hotlines as part of their corporate compliance programs so employees and other company stakeholders such as vendors and customers are motivated and encouraged to report suspected unethical or unlawful conduct internally rather than to first turn to regulators or other government entities.

Physical Security and Evacuation Procedures and Protocols

Do you frequently send your most valuable asset—your people—to far-flung, remote, or high-risk locations around the globe that may put their personal safely in jeopardy?

Most organizations rely on generic, off-the-shelf, one-size-fits-all solutions that rarely address and solve the real-world problems that global organizations face. Verracy can help design, develop, and implement a customized physical security and evacuation program unique to your organization’s specific needs that provides established procedures and protocols for medical emergencies, security situations, and evacuations.

Foreign Corrupt Practices Act (FCPA) and UK Bribery Act Compliance

Global anti-corruption enforcement has never been more active. The Yates Memo, increased incentives for whistleblowers through Frank-Dodd, the SEC’s “broken window” policy toward large and small violations, and the Department of Justice’s U.S. Foreign Corrupt Practices Act (FCPA) Pilot Program have led to a significant increase in enforcement and penalties.

In 2016 FCPA enforcement led to actions against 27 corporations, resulting in $2.41 billion in penalties. In March of 2018 the Serious Fraud Office (SFO) successfully prosecuted the first “failure-to-prevent” case under the UK Bribery Act. FCPA compliance is not just for business conducted on foreign soil—it requires “books and records” and an internal controls provision that applies to all publicly listed companies. The SEC continues to push an expansive view on the internal controls provision of the FCPA where adequate controls in centralized accounting functions are no longer enough. Verracy has a team of global professionals with vast international experience that can help your organization globally navigate the FCPA and UK Bribery Act requirements.

Global Trade Compliance and U.S. Export Compliance

Verracy can perform, or facilitate, risk assessments to identify deficiencies and gaps and to design, develop, and implement procedures and protocols to ensure compliance with U.S. Export and Trade Compliance requirements to protect organizations from costly fines and investigations.

Explore our Areas of Expertise

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Reach out to us today and let’s discuss how Verracy can help you successfully navigate complex issues in your organization.

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