Compliance – an unintended victim of Covid-19? / IBA Anti-Corruption Committee webinar
With the economic impact of the Covid-19 crisis on the rise, companies and their leadership are focusing on their immediate survival. Compliance and risk topics seem to be put aside and officers might find it difficult to convey them to management boards due to their focus on financial resilience. On the other hand, as governments have been in urgent need of medical and other equipment, we witness ever increasing public procurements, many of them not following standard procedures or applying due checks. Compliance pays off significantly in the long-term, similarly with losses if a failure occurs – it is expensive, damaging and disruptive.
How do you protect your business and eliminate unnecessary risks in the era of Covid-19? What should you do in order to prevent various entities from using these times as an opportunity to take advantage? In addition, what is the actual current experience from the in-house point of view?
Andrei Gusev the Managing Partner of Borenius Russia discussed these and other related questions with experts of the IBA Anti-Corruption Committee and delivered a report regarding the situation in Russia and Former Soviet Union countries.