The FCPA Report

The definitive source of actionable intelligence covering the Foreign Corrupt Practices Act

Articles By Topic

By Topic: Compliance Vendors

  • From Vol. 4 No.18 (Sep. 9, 2015)

    Thinking Outside the Box: Examining the Growing Trend of Compliance Outsourcing (Part Two of Two)

    Chief compliance officers are regularly being pressured to do more with less.  Many are operating in businesses that are rapidly becoming more complex, both in terms of their global reach and in their use of sophisticated information technology, PwC partner Jerry Stone told The FCPA Report.  At the same time, a CCO faces increasing expectations from global regulators, the board of directors and the C-Suite, all while trying to keep compliance costs low.  To address this myriad of concerns, many companies are outsourcing some or all of their compliance functions to third-party vendors.  In this two-part article series, The FCPA Report examines the outsourcing trend and discusses the benefits and risks of outsourcing various compliance functions.  The first article discussed why a company might outsource some or all of its compliance functions and explored the associated benefits and risks.  This second article looks at how companies are outsourcing various compliance functions and details three steps a company should take before selecting a vendor.  See also “Five Tools Every Chief Compliance Officer Needs for Effective FCPA Compliance: Title, Authority, Access, Budget and Culture (Part One of Two),” The FCPA Report, Vol. 2, No. 7 (Apr. 3, 2013); Part Two of Two, Vol. 2, No. 8 (Apr. 17, 2013).

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  • From Vol. 4 No.17 (Aug. 19, 2015)

    Thinking Outside the Box: Examining the Growing Trend of Compliance Outsourcing (Part One of Two)

    As anti-corruption enforcement efforts mature, governments are raising the compliance bar.  Implementing and maintaining a best-in-class compliance program that meets these ever-rising standards requires significant human resources and can overwhelm a compliance department, even at a large company.  To help ease the burden on in-house compliance personnel, many companies are outsourcing compliance activities – such as proactive monitoring, training and hotline operations – to third-party vendors.  Some have even gone so far as to hire an outside vendor to serve as their chief compliance officer.  In this two-part article series, we examine the outsourcing trend and discuss the benefits and risks of outsourcing various compliance functions.  This first article discusses the reasons a company might outsource some or all of its compliance functions and explores the associated risks and benefits.  The second article will look at how companies are outsourcing various compliance functions.  See “The Nuts and Bolts of Anti-Corruption Hotlines: An Interview with Benjamin Haley of Covington & Burling,” The FCPA Report, Vol. 3, No. 19 (Sep. 24, 2014).

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