MainStreet Governance Sdn Bhd’s Post

I delivered training on "Corruption Risk Assessment (CRA)" held on 13 August 2024. We covered key aspects of CRA: 📢 Identifying, evaluating and managing key corruption risks 📢 Lessons learnt from case studies and how these have set the context for corruption prevention 📢 Ascertained the challenges in implementing CRA and solutions to overcome the challenges Delegates forwarded valuable feedback, some of which are: 🔔"The trainer was very clear in explaining and answering the questions and the slides prepared were comprehensive" 🔔 "Very engaging and met my expectations" 🔔 "Great trainer with clear explanation" 🔔 "Am satisfied with training and training material" 🔔 "Excellent!" Thank you to everyone who provided me with the opportunity to share my expertise and knowledge! I look forward to welcoming you again to future sessions! Reach out today to learn more about our cutting edge corporate training and be on our mailing list: Email: training@rc-compliance.com Mobile/whatsapp: +60 18 5810 183 Telephone: +60 3 2116 9761 #compliance #anticorruption #antibribery #antifraud #integrity #risk #riskassessment #riskmanagement #training #corporatetraining #learninganddevelopment #management #ethics

Navigating anti-corruption regulations like the Foreign Corrupt Practices Act (FCPA) can be complex, but risk management frameworks offer a structured approach to staying compliant. Start by conducting regular risk assessments to identify any potential corruption risks, whether it's within your operations or external partnerships. Once those risks are understood, implementing strong internal controls is essential. These controls can range from clear anti-bribery policies to whistleblower programs that encourage reporting of unethical behavior. Fostering a culture of transparency across your organization is another key aspect. When employees and stakeholders understand the importance of ethical conduct and compliance, it becomes easier to prevent corruption and stay within the bounds of the law. Risk management doesn't just protect against legal repercussions—it also safeguards your organization's reputation, ensuring you uphold ethical standards. #RiskManagement #AntiCorruption #Compliance #FCPA #BusinessIntegrity #CorporateGovernance

Our training on "Corruption Risk Assessment (CRA)" was held on 13 August 2024. We covered key aspects of CRA: 📢 Identifying, evaluating and managing key corruption risks 📢 Lessons learnt from case studies and how these have set the context for corruption prevention 📢 Ascertained the challenges in implementing CRA and solutions to overcome the challenges Delegates forwarded valuable feedback, some of which are: 🔔"The trainer was very clear in explaining and answering the questions and the slides prepared were comprehensive" 🔔 "Very engaging and met my expectations" 🔔 "Great trainer with clear explanation" 🔔 "Am satisfied with training and training material" 🔔 "Excellent!" Thank you to everyone who provided us with the opportunity to share my expertise and knowledge! I look forward to welcoming you again to future sessions! Reach out today to learn more about our cutting edge corporate training and be on our mailing list: Email: training@rc-compliance.com Mobile/whatsapp: +60 18 5810 183 Telephone: +60 3 2116 9761 hashtag #compliance #anticorruption #antibribery #antifraud #integrity #risk #riskassessment #riskmanagement #training #corporatetraining #learninganddevelopment #management #ethics

🌍 Achieve Excellence with ISO 37001 Certification! 🌍 Unlock the power of integrity and transparency in your organization with ISO 37001 Certification – the global standard for anti-bribery management systems. This certification helps you build a culture of ethical business practices and strengthens your reputation. ✔️ Demonstrates commitment to preventing bribery ✔️ Builds trust with clients, partners, and stakeholders ✔️ Improves organizational transparency and accountability ✔️ Enhances risk management and compliance Invest in ISO 37001 certification to ensure a fair, transparent, and corruption-free business environment! 🔗 Read our blog: https://lnkd.in/gi3Utpk6 #ISO37001 #AntiBribery #BusinessEthics #Transparency #ISOcertification #Compliance #Integrity #RiskManagement #BusinessExcellence

🌍 Navigating the Complexities of Third-Party Due Diligence 🌍 In today's global market, understanding and managing third-party risks is more crucial than ever! 🚀 Join us for an essential webinar that dives deep into the world of third-party due diligence. Learn how to meet global regulatory standards and protect your organization from potential risks like bribery, corruption, and more. 🔍 What You'll Gain: - Insight into global regulatory requirements for third-party due diligence. - Strategies for implementing a risk-based approach to due diligence. - Expert tips on using Diligent’s comprehensive reports to identify and mitigate risks. - Techniques to enhance your management program and safeguard against reputational harm. Don’t miss out on the chance to strengthen your compliance and risk management strategies with insights from industry leaders! ✨ #Compliance #RiskManagement #Webinar #DueDiligence #ThirdPartyManagement #RegulatoryCompliance #BusinessIntelligence

💁♂️Company Service Providers (CSPs) in Malta must prioritize robust Governance, Risk, and Compliance (GRC) frameworks to navigate the complex regulatory landscape. 👉The MFSA's CSP Rulebook demands a proactive approach to governance, comprehensive risk management, and stringent compliance measures. CSPs should focus on integrating these GRC elements into their daily operations, fostering a culture of ethical conduct, and regularly reviewing their practices. ✅By embracing technology solutions, investing in staff training, and maintaining open communication channels, CSPs can not only meet regulatory requirements but also build resilient, trustworthy businesses that stand out in the competitive financial services sector. #mfsa #fiau #aspida #grc #risk #tcsp

The COSO framework outlines 5 key components for effective internal controls, conveniently remembered by the acronym CRIME: Control Environment: Does your company culture prioritize ethical behavior and effective controls? Risk Assessment: Are you proactively identifying threats to your goals? Information & Communication: Is everyone clear on their roles and expectations related to internal controls? ️ Monitoring Activities: Do you have regular checks in place to ensure controls are working as intended? Existing Control Activities: Do you have the right controls in place, and are they functioning effectively? #riskmanagement #coso #compliance #risklevel #holisticapproach #GRC #COSO #InternalControls #RiskManagement #SOC1compliance #EnterpriseRiskManagement #GovernanceRiskCompliance

Third-Party Risk Management & The Evolving Risk Landscape This week's breakfast seminar with Schjødt and KONGSBERG offered valuable insights into navigating the complexities of Third-Party Risk Management (TPRM) and Integrity Due Diligence (IDD). Recent geopolitical developments and evolving regulatory expectations surrounding responsible business conduct have significantly impacted the TPRM landscape. In particular, the increased risk for sanction circumvention and legal requirements to conduct due diligence in line with the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct require companies to rethink their processes. In our day-to-day practice, we observe that many companies need to update their procedures to address such risks in a targeted manner and in line with authority expectations. Some of our key takeaways:   🔸 Carry out (and documenting!) a risk mapping of the company's business partners taking into account relevant risk indicators (e.g., including product "sensitivity" and sanctions diversion risks). 🔸 Adopting a holistic, risk-based and practical Third-Party Risk Management framework which is well-aligned with existing processes. 🔸 Involvement of line management and the business partner when gathering information. 🔸 Separate facts and (legal) risk assessments in IDD reports. 🔸 Obtaining legal expertise on relevant compliance laws (e.g. sanctions and export control) and local laws. 🔸 Document the process and ensure compliance with privacy legislation. 🔸 Implement adequate procedures for monitoring of business partners and projects (risk reviews, audits etc.). Thank you Håkon Lindteigen for the excellent cooperation, it was a pleasure working with you! Thomas Brandi Silje Wollan Einum Thomas Behné Ramsnes Arild Dyngeland #ThirdPartyRiskManagement #IDD #Compliance #ResponsibleBusinessConduct #ESG #sanctions #Exportcontrol #HumanRights #Corruption #TransparencyAct

Well said Ts. Dr. Mohd Hakim Hashom and HATTA HASHOM. To a certain extent companies are unable to proactively identify, evaluate, and mitigate (corruption) risk with their own GRC program. Therefore, they are unable to ensure adherence to regulations. Implementing a unified and comprehensive GRC (Governance, Risk, and Compliance) solution can effectively support an organization's core business objectives and desired outcomes. By adopting a holistic approach to streamline GRC processes, organizations can enhance their risk management and drive increased business value, more so in the evolving Governance ecology in the AI era. #anticorruption #businessethics #antibriberymanagementsystem

The GRC framework aids organizations in overseeing and harmonizing their strategies with objectives, managing risk, and guaranteeing conformity with regulations and standards. It encompasses decision-making processes, the identification and mitigation of potential threats, and the enforcement of legal and regulatory requirements. Together, these elements constitute a comprehensive approach to organizational management, promoting efficiency, accountability, and sustainability. #corporategovernance #ABMS #governance #risk #compliance #anticorruption #antibribery #legislation #organizationalmanagement #strategies