In an age of massive data leaks, whistleblower bounties, and multimillion-dollar fines for violations of bribery and corruption laws, multinational corporate executives and board members must prioritize the implementation of robust anti-corruption compliance programs to safeguard their companies and shareholder value.
The goal of any anti-corruption compliance program is to prevent and detect misconduct. However, as importantly, good governance can help strengthen the rule of law and the communities in which our corporations operate, both here at home and around the world.
As Peter MacKay, Baker & McKenzie Senior Partner and former Canadian Minister of Defence and Justice, writes in this Law Times article, now, more than ever, companies must develop and implement effective compliance programs, which should include strong leadership, rigorous internal policies and procedures, greater transparency measures, and regular employee training. These elements must be accompanied by region- and industry-specific risk analyses, and vigorous third-party agent and supplier due diligence from one end of the supply chain to the other.