As the regulatory landscape rapidly changes, staying up-to-date on the latest requirements and ensuring compliance can be challenging for companies. However, recent regulatory activities like the FCPA’s enforcement actions in 2022 indicate that organizations must prioritize third-party risk management or risk the costly ramifications of noncompliance.
What does investing in a more credible and robust third-party management program look like? Compliance expert Tom Fox explores key issues companies must consider as they reprioritize managing third parties, including:
- Risk mitigation
- Relationship management
- Reporting
- Due diligence
- FCPA compliance