There is absolutely no excuse for not being Bribery, Fraud and Corruption (BFC) Compliant
In the fast changing- and complex business world, opportunities for a quick buck or fast tracking the path to a lucrative transaction are vast, varied and vested. However the BFC risks can be intimidating because it creates a tumor in the corporate DNA structure and BFC compliance obligations become burdensome.
Get your BFC ducks in line, because the future of your business belongs to well-governed, sustainable, risk intelligent organization. Embarking on a BFC Journey to achieve higher levels of business performance by leveraging the maturity gained at every level of the BFC program.
The Copenhagen Charter/Riskability; Bribery, Fraud and Corruption Maturity Model helps you to determine the key functions and processes that are crucial for a good BFC program. The assessment tool benchmarks against this model to estimate the maturity of your BFC bar. Our analysis identifies the areas of strengths and transparency and provides practical suggestions to develop a plan to make substantial improvements.
Value for quick wins
The next step is to provide leadership to create a BFC roadmap and a framework, because it is our understanding that most companies are required to either improve their policies and processes or lack a structure that monitors daily routines.
Therefore, we recommend that you revisit your BFC vision, modernize the governance model, and maybe do some mapping to avoid duplication of efforts. This will then provide the platform for creating a clear strategy, needed to develop and implement the BFC blueprint.
With the first two steps in the bag, continue to do some research on the best practices for your trade, and get expert tips on improving the BFC program, by ensuring that management’s focus is on the right priorities. At each step pause for a while to decide whether the change provides value for delivering quick wins. Value creation must be the foundation of any Governance, Risk Management, Compliance or IT-Security architecture.
Get your BFC ducks in line
The BFC assessment takes a couple of hours to complete. The data is then gathered and consolidated in a report with detailed answers. The assessment is an in-house due diligence in the context of anti-bribery and corruption laws (e.g., FCPA, UK Bribery Act, and OECD).
Organizations are scrambling to deal with issues of governance, anti-bribery & corruption, social accountability, third party business relationships (e.g., agent, supplier and associate). These issues and challenges are a result of the IT-Assessment tool. It contains process, oversight, content based on user friendly technology and specialist services.
And if you really want to get your BFC ducks in line, then we suggest that you contact us or send an email, requesting that we conduct BFC risk workshop, prior to you and your BFC stakeholders responding to the IT assessment tool. http://www.copenhagencharter.com/BFC-Brochure.pdf
Remember the two iconic novels that became classic films?—Bridge Over the River Kwai (1958) and Planet of the Apes (1963). They were both written by French author Pierre Boulle. In both films he reiterated: 'There's always some further action to take'. We suggest that you take further action and review the value and importance of the Riskability Assessment IT-Tools. The Compliance force is developed to control disorder.
