FRA appointed as Accredited Auditor for ETHIC Intelligence

Forensic Risk Alliance (FRA) today announced that it has been selected as an accredited auditor for ETHIC Intelligence. This prestigious appointment makes FRA one of only five companies qualified to assist ETHIC Intelligence in delivering certification for corporate anti-corruption (AC) compliance programs around the world.

The certification terms of reference developed by ETHIC Intelligence are based on all existing major international standards including international anti-corruption conventions (UN Convention against corruption, OECD Convention on combating bribery, etc.) and guidance provided by selected national regulators and prosecuting authorities (for instance in respect of the FCPA Federal Sentencing Guidelines and the UK Bribery Act Guidance).

In addition, ETHIC Intelligence's certification factors in guidance issued by international governmental organizations (OECD guidelines for multinational enterprises, UN Global Compact), recommendations issued by professional bodies and non-governmental sources such as the International Chamber of Commerce (ICC) and Transparency International (TI). It also takes into account British Standard "BS 10500."

ETHIC Intelligence Anti-corruption compliance certification has been developed to provide companies with concrete proof that their compliance programs are designed to mitigate their specific corruption risk and are effectively understood and implemented. Companies can use their certification to communicate positively and credibly on their compliance commitments as well as to benchmark and strengthen their programs, ultimately protecting teams and adding to brand value.

Toby Duthie, a Partner at FRA, comments: "We are delighted to become an accredited ETHIC Intelligence auditor especially in light of the fact that anti-bribery and corruption legislation is being tightened across Europe and in the USA and enforcement is increasing even beyond Western jurisdictions. Corporations can now be held automatically liable for any bribe made by an employee, even in instances where senior management had no knowledge of the payment or day-to-day control over the accused party. Furthermore, if companies can demonstrate an environment with robust processes, procedures and controls, this can form part of a powerful defense in the event of bribery. This means there is a growing demand for third party certification, auditing and compliance advisory services such as those offered by FRA and ETHIC Intelligence."

Unlike many other anti-corruption certifications, those carried out by ETHIC Intelligence and FRA require a thorough, on-site assessment of the company's AC compliance policy taking into account the specific corruption risks faced by the company, as measured by such factors as the nature of the company's business (B2C, B2B, B2G), its size, the way it is legally and commercially structured and its geographical presence. On the basis of a comprehensive risk analysis, ETHIC Intelligence's AC certification processes assess the company's AC policies and procedures according to four main criteria: Information, Training, Tools and Controls. Results of the on-site audit are reviewed by a committee of international lawyers who provide an additional level of scrutiny and high-value recommendations. This two-tiered evaluation system, coupled with ETHIC Intelligence's oversight of the process, makes ETHIC Intelligence anti-corruption certification unique in the world.

FRA's experience in carrying out these risk-based compliance reviews and tests of internal controls, as well as its established reputation amongst the compliance community, independence and experienced management team, were key factors in the company's appointment.

ETHIC Intelligence's certificates can also be applied to subsidiaries, business units, divisions or consortia, regardless of country locations. This plays directly to FRA's strengths in multi-regional and multi-jurisdictional work, as well as its wide experience in carrying out preventative and post-settlement assignments for corporates, joint ventures, supply chain partners and, as part of a general internal review, a wider M&A due diligence or a US Government compliance monitorship team. Together, FRA and ETHIC Intelligence help companies objectively demonstrate that they have robust anti-bribery compliance (ABC) procedures and processes in place in order to limit exposure to corrupt activity, maintain compliance with all major AC legislation, and promote their efforts towards conducting business with integrity.

Philippe Montigny, President, ETHIC Intelligence, Concludes: "FRA's experience in corporate anti-corruption and anti-bribery programs from an investigations and forensic perspective makes it an ideal auditing partner to carry out management system reviews towards ETHIC Intelligence anti-corruption certificates. Building on its expertise in investigating corruption cases, FRA auditors have developed a keen eye to detect weaknesses in compliance programs. They are also well positioned to make concrete recommendations so companies can effectively reduce their corruption risk. For companies wishing to conduct a forensic audit in parallel to the management systems audit necessary for ETHIC Intelligence certification, calling on FRA can also reduce audit costs overall. ETHIC Intelligence is proud to partner with FRA's dynamic and professional team of specialists whose perspective we believe will add much value to our anti-corruption compliance certifications and validations."