Fcpa Compliance Report

Where does “Tone at the Top” start. With any public and most private US companies, it is at the Board of Directors. But what is the role of a company’s Board in FCPA compliance? We start with several general statements about the role of a Board in US companies. First a Board should not engage in management but should engage in oversight of a CEO and senior management. The Board does this through asking hard questions, risk assessment and identification. In a White Paper, entitled “Risk Intelligence Governance-A Practical Guide for Boards” Deloitte & Touche laid out six general principles to help guide Boards in the area of risk governance. These six areas can be summarized as follows:  Define the Board’s Role-there must be a mutual understanding between the Board, CEO and senior management of the Board’s responsibilities. Foster a culture of risk management-all stakeholders should understand the risks involved and manage such risks accordingly. Incorporate risk management directly into a strategy-oversee t