ACL Releases Resources Guiding Internal Auditors Over FCPA Risks

Jack Humphrey, Regulatory journalist
January 27, 2011 /

Business technology provider ACL Services Ltd has introduced several resources for internal auditors aimed at increasing their understanding of the risks arising from failure to comply with the Foreign Corrupt Practices Act (FCPA).

The online resources, including an e-book, webinars, and a feature article, accordingly help auditors in overseeing internal controls of organizations that relate to FCPA compliance. These resources could prompt auditors to sound the alarm when a company is on the verge of violating the FCPA, thus taking preventive steps to help the firm avoid penalties, prosecution, and damage to reputation.

“Using audit analytics is a central component of an effective and efficient FCPA compliance program. The stakes are getting higher and failure to demonstrate a sound FCPA strategy could be disastrous to your organization,” ACL said.

The resources have been built on the works drawn by ACL with more than 14,700 organizations worldwide in helping internal auditors handle situations that require strict compliance with the FCPA.

One of the resources, an e-book entitled Don’t Get Bitten by the FCPA gives an overview “of the critical role that audit analytics play in supporting an FCPA compliance program.”

The e-book contains tips, case studies, and materials to get started which include an FCPA compliance assessment questionnaire and a list of tips to detect potential violations against FCPA.

The on-demand webinars include FCPA, Practical Steps to Stay in Control that advises internal auditors on how to help a company avoid FCPA violations through “an early warning system that identifies red flags by leveraging a system of internal financial controls.” The other one is called Using Data Analysis for FCPA Compliance that pinpoints potential FCPA violations through monitoring techniques and helps organizations comply with FCPA through transactional analysis of data.

The feature article Compliance & Internal Audit: Find your way through the FCPA written by Steve Biskie reviews specific analytics that are easy and quick to implement to understand potential FCPA violations.


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