Managing the Risk of Fraud and Misconduct by Richard H. Girgenti & Timothy P. Hedley

Author:Richard H. Girgenti & Timothy P. Hedley
Language: eng
Format: epub
Publisher: McGraw Hill LLC
Published: 2011-01-15T00:00:00+00:00

Risk Tolerance

Laws and regulations alone are not the only drivers of the need for corporate intelligence. The globalization of business and the risks associated with unfamiliar business relationships and remote locations are also key drivers of corporate intelligence. As enterprises entrust critical aspects of their businesses to factories, subsidiaries, back-office operations, suppliers, agents, and intermediaries that may be thousands of miles or continents away, their vulnerability and their risk rise concomitantly. Integrity assessments of important business partners very often include examination of the reputation, business history, and potentially related parties of a business partner. This can include a review of funding sources associated with a business relationship, as well as the way an entity and its managers conduct their business in a given jurisdiction.

As global markets and financial systems become increasingly intertwined, an enterprise should understand and be prepared for additional and, in some cases, potentially conflicting sets of laws and regulations in multiple jurisdictions. Companies seeking to obtain information from other jurisdictions or move that information across borders need to be cognizant of data privacy and data transport regulations. Companies often consider fresh legal input with each new cross-border business venture or data transfer.

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