The Network GRC Blog

Is Global Bribery a Necessary Evil?

April 30 2012

Clark Bosley, EVP Global Account Management, The Network

Bribery Is bribery sometimes right? Do laws like the FCPA and Bribery Act actually do more harm than good? We define “bribery” as having a corrupting effect and therefore wrong, and that part is certainly true. But if you follow what one Harvard director has to say, (alleged) briberous companies such as WalMart should be prosecuted, but the laws mandating that prosecution are contrary to business and even national growth.

Writing for CNN, Jeffrey Miron contends it’s only unsophisticated companies that get caught for bribery and that bribery is taking place everyday, especially in developing countries, as standard business practice. Miron has a good point: payments that are…

Rolling Ethics Uphill

April 26 2012

David Addaman, Chief Sales & Distribution Officer, The Network

Walmart Business scandals like the one now involving Walmart and alleged bribery and corruption cause all of us to shake our heads and wonder how something like that can happen – or be allowed to occur – when we as individuals and corporations alike profess to wanting an ethical culture. At first glance, it would seem that companies are talking out of both sides of their mouths. To employees they say, “Do what we say and follow our policies,” but for the corporation at large, the cynical view leads one to believe that it’s all talk and no action.

It’s not always easy to do the right thing.…

Learning Your ABCs

April 24 2012

Clark Bosley, EVP Global Account Management, The Network

The UK Bribery Act has been in enforcement going on nine months, but signs are that there is still confusion and lack of commitment on the part of corporations with British interests when it comes to protecting themselves against financial crimes (the ABCs, or anti-bribery controls). It’s no time to claim ignorance. It IS time to get on board.

The UK’s Financial Services Authority just released a report called “Anti-bribery and corruption systems and controls in investment banks” that provides some startling facts. The FSA, which set down guidance for financial firms operating in the UK and therefore subject to the Bribery Act, found…

Data Privacy and Integrated GRC

April 19 2012

Jimmy Lin, VP, Product Management & Corporate Development, The Network

Privacy and Integrated GRC Data privacy is becoming one of the most talked about topics among compliance and auditing practitioners. A short while ago I blogged about the need for strong policies and security measures geared toward data protection. Our partner Grant Thornton has release results of a new survey, “Rising to new challenges: The view from the office of the CAE,” on the current state of the chief audit executive, and the report points out two important factors that CAE’s need to embrace in order to be successful (including data privacy).

First off, there is that ongoing risk posed by cloud computing and cybersecurity threats.…

Disclosure and Compliance

April 17 2012

David Addaman, Chief Sales & Distribution Officer, The Network

Disclosure and Compliance Few of us readily like to admit when we’re wrong. We had rather work through the error and find ways fix the errors quietly and unnoticed. If I knock over and break my wife’s favorite family portrait, I’ll be glad to clean up the mess and buy her a new picture frame. But I’d rather that she didn’t find out about it.

Corporations aren’t really all that different – except that when they do this, stakeholders scream cover-up and malfeasance. And well they should. After all, there are rules around risk management and disclosure. The rules mandated by the SEC back in February 2010 were…

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