There are at least 8 essential components of compliance risk management programs. Risk management aims to reduce the likelihood that an organization will not achieve its goals and objectives. Compliance is the obligation to adhere to laws, regulations, contract terms, internal policies, and other requirements. Compliance risk management refers to the organizational procedures, processes and culture that reduce the likelihood of non-compliance.
Organizations at risk of anti-bribery and anti-corruption (ABAC) violations should implement risk-based ABAC compliance programs.
The federal government’s rules around the integrity of the procurement process also apply to real estate, in particular, the possibility that leases with the federal crown as tenant can be terminated for breach of anti-corruption provisions.