Protiviti Launches Governance Portal for 3rd-Party Anti-Corruption

Proquest LLC

Protiviti reported that it has released the Protiviti Governance Portal for Third-Party Anti-Corruption, enabling companies to develop and manage a risk-based, third-party anti-corruption program that supports compliance with the U.S. Foreign Corrupt Practices Act (FCPA) and other anti-corruption laws.

In its release, Protiviti said the Governance Portal for Third- Party Anti-Corruption v4.1 is a new module of the Protiviti Governance Portal, a GRC (governance, risk and compliance) platform that helps organizations efficiently support multiple GRC activities. With the new module, companies can manage corruption risk across their third-party ecosystem from a single, centralized platform.

Protiviti noted that it also provides consulting services to support anti-corruption programs with anti-corruption strategy, due diligence and remediation activities.

"For large companies, the most common source of FCPA violations comes from third parties acting on their behalf," said Scott Moritz, managing director and global lead of Protiviti's Investigations and Fraud Risk Management practice and former FBI special agent. "Acknowledging the unique risks these 'intermediaries' present and having a well-conceived policy to combat them simply aren't enough. To fully operationalize an anti-corruption program, organizations must have the technology and content to manage the underlying processes and align them with their internal controls and audit programs."

"The Protiviti Governance Portal for Third-Party Anti-Corruption provides an easy and cost-effective way for large organizations to create a sustainable, consistent process for evaluating and managing the risks associated with their agents and third-party business partners scattered around the world," said Scott Wisniewski, managing director of Protiviti's Risk Technologies group. "It also helps companies to develop a standardized risk-scoring methodology based on their unique requirements and risk scorecards, allowing them to more easily identify and take action against the entities that present the highest risk to their organizations."

Protiviti said it will conduct a complimentary webinar to explore effective third-party anti-corruption programs on July 15 at 10 a.m. PDT. The 60-minute webinar is eligible for CPE credit and will feature Protiviti's Moritz and guest speaker Chris McClean, principal analyst and research director with Forrester Research.