Gifts and entertainment compliance can be difficult to handle but they are an essential part of business relations for many companies. We all agree it helps to improve business relationships. However, gifts and entertainment can also create compliance risks such as bribery for government and politically exposed persons, inappropriate influences from vendors, violations of the policies of third parties and manipulation of laws and regulations. That's is why it is so important for the compliance team to understand and mitigate the risks.
MCO wanted to look at how companies deal with this possible conflict of interest and manage their gifts and entertainment policy. To find more insights we decided to survey senior compliance staff of firms to understand more about their Gifts and Entertainment Policy and Compliance trends. The findings of this survey can be found here in our report and you can also join our Asia-Pacific, Director Kelly-Ann McHugh for a discussion on the findings in this on-demand webinar.
Kelly-Ann McHugh highlights the main findings of this survey in a short webinar format. She will drive you through the main questions of the survey and give an overview of our analysis.
If you are looking for ways to improve your gifts and entertainment rules or want some insights from global organizations on how to improve training, compliance monitoring, attestation, reporting and manage closely the risks this webinar is a must-watch.
Key Takeaways include:
- Pre-Clearance of Gifts and Entertainment
- Limits for Gifts and Entertainment
- How Companies Evaluate Events Costs
- Rules for Politically Exposed Individuals
If you are looking for more resources on Gifts and Entertainment and all things Compliance subscribe to our blog.
You can develop your gifts and hospitality policy to mitigate misconduct risk and monitoring is an essential part of this. MCO's solution helps you monitor, document and address potential conflicts through automation. If you are looking for further information on how to develop your GEH policy consider visiting our policy tips page or reading our Gifts & Entertainment case study.
