SAN FRANCISCO and HONG KONG, July 28 /PRNewswire-Asia/ -- The Red Flag Group, a leading compliance advisory, due diligence and technology firm, announces today the publication of its latest thought leadership to help companies build best-in-class due diligence programmes and minimise third- party compliance risks.
The report also seeks to help companies navigate the different due diligence investigation choices available to them, from reviews of politically-exposed-persons watch-lists, corporate registries, and litigation records, to site visits, interviews, and reviewing the third party's policies and procedures.
All too often, companies take a reactive approach to conducting due diligence on third parties they do business with.
This means that the way in which different companies conduct due diligence to address their unique risks will also be different, even if they are in the same industry," he said.
Mr Walton added that a comprehensive third party due diligence programme that is aligned to a company's risks and business objectives not only reduces the risk that its distributors or resellers engages in illegal acts such as bribery, but can also expose the company to a range of benefits from strengthening risk management in its sales channel, to increasing margins and providing better pricing control, providing better safety to consumers and end-users, and increasing protection to the corporate brand.
Scott Lane, CEO for The Red Flag Group and also co-author of the report, said: "Not only does The Red Flag Group have extensive experience providing FCPA and anti-bribery due diligence to Fortune 500 companies, but our offices in emerging markets around the world -- including China and the Middle East -- also mean we have the local knowledge and expertise to provide the type of useful intelligence companies need, in what are considered some of the most challenging places for conducting due diligence.