Every organization is exposed to events that have some likelihood of adversely impacting its objectives. This exposure includes laws and regulations—such as the Foreign Corrupt Practices Act (FCPA) and privacy regulations—that can result in significant consequences to a business. Proper management of, for example, relationships with vendors, customers, or other third parties, and of confidential information of employees and third parties, is required to avoid risk of fines and penalties. This is a common view of risk—one that is very much focused on compliance with laws and regulations.
KeywordsAudit Committee Business Unit Internal Audit Ethic Program Business Function
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