How to Conduct an Internal Compliance Site Visit and Review

Corruption Crime & Compliance

How can companies ensure that their compliance programs are robust enough to handle today’s complex ethical challenges? In this episode, Michael Volkov dives into the critical components of conducting an internal compliance site visit and review. He highlights the significance of these visits in understanding operational risks and compliance culture. With real-world examples, Michael emphasizes the need for a proactive approach to compliance, ensuring that organizations are not only following regulations but also fostering an ethical environment.

Listen in as Michael talks about:

• Conducting personal interviews with key staff to assess the compliance culture and operational challenges.
• Reviewing and testing transactions across various vendor categories to ensure compliance with protocols.
• Evaluating the effectiveness of training programs and employee understanding of ethical standards and compliance awareness.
• Verifying compliance with internal policies and conduct due diligence on charitable contributions.
• Assessing the compliance processes surrounding sponsorships and their alignment with company policies.
• Implementing thorough due diligence practices for third-party vendors to mitigate risks.
• Reviewing employee expense reports to ensure proper documentation and compliance with gift, meals, entertainment, and hospitality policies.

Resources

Michael Volkov on LinkedIn | Twitter

The Volkov Law Group