Host: TK Kerstetter
Guest: Alex Wolff, Board Member, Albemarle Corp. and Versum Materials
Understanding the risks inherent in each country is the responsibility of both management and the board of directors. There have been many horror stories about companies operating internationally only to be stung by disrespected contracts or rule of law.
Understanding the geopolitical makeup of foreign countries is important as many companies look to expand operations across borders. Host TK Kerstetter invites board member and geopolitical expert Alex Wolff to share his experiences and offer guidance on the issue of international risk oversight.
"It’s not just FCPA," explains Wolff. "Most of these countries or regions, like the EU, have their own very strict anti-corruption guidelines that [companies] can easily run afoul of. So it’s important to keep a regular eye and oversight over this. Generally, you need to ensure your company has a rigorous anti-corruption compliance program tailored to the risks you may be facing in any particular jurisdiction. A board, usually through the audit committee, should get regular briefings on the compliance program from the chief compliance officer and from other key individuals throughout the company [who are] involved in these issues. Directors regularly need to ask a lot of questions around the monitoring and compliance of the controls that are in place."
board members vs officers Board Oversight Across Borders: From FCPA to Geopolitical Affairs | |
| 1 Likes | 1 Dislikes |
| 86 views views | 762 followers |
| Education | Upload TimePublished on 10 Feb 2019 |
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