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The Case for Vetting Global Business Partners

CFO Insights


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For CFOs, it is far better to proceed slowly, carefully, and thoroughly with any new business relationship.

CFO Insights: The case for vetting global business partners

Conducting due diligence on international business partners has become a leading practice for companies—and for CFOs—operating in global jurisdictions. There are actually multiple factors driving the need for better compliance. The U.S. Foreign Corrupt Practices Act (FCPA), UK Bribery Act, and multinational agreements, for example, oblige companies to “know” their foreign counterparts.

What seems clear is that companies will be expected to conduct a deeper, more systematic investigation of potential international business partners, and CFOs and others overseeing risk management can spearhead that effort by establishing a due diligence process that involves collecting information from the business partner, verifying the data, and following up on identified red flags.

In this issue of CFO Insights, we discuss some of the takeaways from enforcement actions as well as those due diligence options.

Download the CFO Insights article, "The Case for Vetting Global Business Partners," to learn more.

 

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