|By Business Wire||
|February 8, 2013 11:00 AM EST||
Aravo Solutions, Inc., the leading provider of cloud-based Supplier Lifecycle Management(SLM) B2B and information and collaboration solutions, announced that it has joined with KPMG to deliver a must-see webinar addressing the Federal Corrupt Practices Act (FCPA) for financial, compliance, internal counsel and procurement executives who manage third party intermediaries. The webinar will explore the key elements of successful FCPA programs, discuss real-world examples, provide actionable steps to avoid prosecution and demonstrate how technology can automate critical compliance processes and documentation.
Exposure to the FCPA and the business and legal risks of corruption continue to grow as companies drive their global footprint into new markets and partnerships. FCPA fines and penalties in 2012 alone were $260 million, averaging $22 million per incident, and the pace of SEC and DOJ inquiries shows no signs of abating. FCPA requirements apply to not only a company’s employees but also to its agents, contractors, investors and suppliers. “While third party relationships and transactions are difficult to track, ‘willful blindness’ only increases culpability in the eyes of Federal regulators,” says Robert Shecterle, VP-Marketing, Aravo. With the passage of similar legislation in the UK and other markets, anti-bribery compliance is now a global concern.
The webinar will explore:
- Building a compliance/regulatory risk management framework
- Importance of non-compliance mitigation and response plans
- Related laws for foreign business transactions
- Due diligence on third parties/transactions
- Ongoing tracking and risk alerts
“Enforcement of global anticorruption conventions remains at an all-time high, and organizations worldwide continue to face hurdles when addressing compliance and trying to change cultural norms in the markets where they operate,” says Marc Miller, partner at KPMG. “We continue to see proactive enforcement sweeps by the DOJ and the SEC, but that has, to some degree, been countered with more support from the board level, which has transcended down into the C-suite dedicating more attention to this topic.”
During the webinar, speakers will discuss examples of how companies are implementing FCPA programs and using technology to track and manage on-going FCPA compliance requirements. The one-hour webinar is scheduled for February 26, 2013 at 11am Pacific/ 2pm Eastern time. Interested parties can register at: “The Increasing Business Risk of FCPA Failures” or at www.aravo.com.
The world's best-run businesses utilize Aravo's Cloud-based Supplier Lifecycle Management and business social network solutions to find and manage trading partner relationships, reduce supply chain risk, ensure global regulatory compliance and lower the cost of managing suppliers by up to 72%. Aravo launched the market’s first SIM/SLM solution in 2004 and has been the leading innovator in the space ever since. Customers like General Electric, Accenture, and Boston University rely on Aravo to manage information and processes for over 2 million global suppliers. Aravo is based in San Francisco, with offices in Chicago, Dallas, NY, Portland, Monterrey, Mexico and Ahmedabad, India, and is backed by over $50 million in investment from Cisco Systems, Big Sky Partners, and others. For more information regarding Aravo's award-winning solutions please visit our websites http://www.aravo.com and http://aravoassure.com or view our blogs at http://www.2sustain.com and http://atrisk.net.
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