FBK Grant Thornton About Effective Compliance Programme

date
29.08.2019

FBK Grant Thornton has become a partner of the conference “Compliance Today: Protect Yourself from Risks and Make Profit” arranged by the event planning agency Sobytiye. Alexander Sotov, Head of Financial Investigation Practice at FBK Grant Thornton, spoke about the problems resulting from the communication between the security and compliance departments and suggested respective solutions.

He noted that there might be conflicts related to the control over the hotline and investigations, as well as contractor and employee background checks. Personal ambitions of department heads may add to the problem.

The most important thing is to ensure a clear demarcation of the powers of the two departments and establish not just formal but effective communication, Alexander Sotov said.

Conference attendees also discussed what is required to create an effective compliance programme, how to apply it, why this function is promoted and how to mitigate competition, sanctions and corruption risks.


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