CORPORATE COMPLIANCE AS A PREVENTIVE MEASURE AGAINST SWINDLE

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CORPORATE COMPLIANCE AS A PREVENTIVE MEASURE AGAINST SWINDLE

Journal Title: Экономика и финансы - Year 2015, Vol 1, Issue 6

Abstract

System of compliance is cross functional licensed international system of counteraction to the threats and management risks, that provides correspondence of company operations to law, rules, recommendations and conformance to standards. So the system can be called as «ambulance» for corruption and swindle. A primary objective of system implementation is creation of effective mechanisms which affort an opportunity to revealthedanger areas for eventual abuses manifestation and can help to esteem and resist corruption and swindle. So, firsts of all, the system of compliance is the effective checking system on an enterprise and is the instrument of risk minimization. Nowadays, the development and implementation of effective mechanisms to fight against corruption, bribery and white-washing are serving as domination points in a world economy. Constant enactment of new legislative acts is strengthening responsibility for noncompliance with norms, which are intended to fight against mentioned phenomena. Therefore the implementation of anticorruption compliance policy in large foreign companies became the concurrent activity. So the primary objective of this policy is minimization of law and brand risks which come out of statutory requirements violation.

Authors and Affiliations

Tetyana Klimko, Olena Melnyk

Keywords

EP ID EP231406
DOI -
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