Deloitte Session on Understanding the ‘Extended Enterprise’ Managing Third Party Corruption Risks

 

On 29th July, AmCham Karnataka Chapter partnered with Deloitte for an interactive session on understanding the “extended enterprise.” The speakers included Sumit Makhija, Partner – Forensic Financial Advisory, Deloitte India and Rama Prasad, VP & MD, Esterline India.

 

The discussion revolved around managing third party corruption risks and elaborated on the FCPA and Indian law. Case studies outlined the risk exposure due to third parties and the associated damages. The session also covered creating a framework for managing third party corruption risks.

 

The second part of the session featured three complex third party risk management scenarios:

 

  • Scenario A. An uncooperative third party refused to answer your questions or provide requested documentation
  • Scenario B. The ownership structure was so convoluted and it is impossible to determine if there is a risk of a government touch-point
  • Scenario C. Accounting records point to risky payments including potentially fictitious invoices and vendors

The session was attended by member organizations Nike, IBM, Cisco, 3M, Northern Trust, Brookfield, Technicolor, Exxon Mobil and others.