Compliance due diligence is both retrospective and prospective in nature and thus extends beyond legal due diligence. The primary goal of compliance due diligence is to ascertain whether the specific legal and economic risks that are material to a company have been identified and whether a compliance management system with informational, training and control components has been established to appropriately respond to these risks.
Agents & Intermediaries Screening:
For companies that use agents, distributors and other intermediaries, screening is now essential. Tough new laws like the UK Bribery Act inflict severe penalties on organisations that can’t prove that adequate steps have been taken to screen agents.
To help clients respond, Renalytiks has devised high-volume, global third-party and agent screening services. This reduces the risk of dealing with corrupt agents, vendors and business partners.
The Renalytiks screening service uses an exhaustive review and analysis of publicly available information on the relevant entity or individual. This examines their public profile, business relationships and commercial track record in depth. It highlights any “red flags”, including potential high-risk political links. If instructed, our trusted sources can make discreet enquiries to obtain non-public intelligence to get to the heart of these issues.
Anti-Corruption & Fraud Audits:
Corporates have very clear Code of Ethics that provide guidance on how to conduct the business, e.g. negotiating contracts; rules on avoiding or stopping conflicts of interest etc. The policies should include an approach to reducing and controlling the risks of bribery rules about accepting gifts, hospitality or donations.
Renalytiks consultants would research & report on the existence &/or any non-compliance of :
- Anti corruption related Policies and procedures
- Payments to third-party sales intermediaries
- Anti-corruption training compliance
- Whether the company has documented in a report detailed incidents of non-compliance and recommendations for improvements.