Toolkit: Third Party Due Diligence & Due Diligence Processes and Systems
A review of past enforcement action and various reports and survey on corruption risk clearly indicates that agents and third-party risk accounts for the vast majority of corruption prosecution and corruption related corporate wrongdoings. Organisations dramatically increase their exposure to corruption risk when they fail to conduct a thorough vetting process of their agents, third parties, suppliers, business partners and even suppliers. Whether it is on-boarding a new agent to facilitate entry in a foreign market or seeking a business partner in a difference country, any organisation must institute a comprehensive due diligence processes and systems that will help them prevent, detect and mitigate corruption and other risks.
Risk-based due diligence policies, polices and systems are a critical and integral part of a robust anti-corruption compliance program and can save a potentially lucrative business venture from turning into a costly legal, reputational and business disaster.
This toolkit will provide you a number of tools to help you develop, improve and benchmark your due diligence processes and systems.
Click on each tool to open their description and link. Please search the CCEAC toolbox for other related tools.
OECD Due Diligence Guidance for Responsible Business Conduct
author: OECD
This is a general Guidance put out by the OECD in plain language for SME’s who may be looking at starting due diligence programs and creating policies as a basis for starting business dealing is a foreign market. The Guide covers many areas of risk and how to assess, manage and deal with risk. A good general guide for SME’s first starting out and do not know where to start with due diligence.
Available in English and French.
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Third Party Anti-Bribery Framework Checklist
author: TI-UK
This checklist from TI UK is intended as an aide-memoire for those responsible for designing, implementing and reviewing the company’s third party anti-bribery management programme. It is not an exhaustive list but aims to cover the key elements outlined in the guide, Managing Third Party Risk: Only as strong as your weakest link.
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Anti-Bribery Due Diligence for Transactions - Guidance for Anti-Bribery Due Diligence in Mergers Acquisitions and Investments
author: TI-UK
This publication aims to help those operating in this area by providing a practical guide that draws on the expertise of leading practitioners in multinational companies, the legal profession, accounting firms and professional advisors.
This Transparency International UK’s 32-page guide contains:
– Ten Good Practice Principles
– A detailed description of how to integrate anti–bribery considerations into a standard due diligence process
– 59-point checklist
– A full description of the legal context.
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Common Due Diligence Pitfalls and How To Avoid Them
Author: GAN Integrity
E-book from Gan Integrity that provides valuable information such as:
- Understanding the ten golden rules of due diligence
- Providing access to mini case studies with actionable solutions
- Best practices that remedy each pitfall
- Shows how end-to-end due diligence can enhance your compliance program
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TRACE International Intermediary Directory
Author: TRACE
The TRACE Intermediary Directory is a publicly searchable database of pre-vetted and trained small and medium-sized enterprises (SMEs). Entities included in the Intermediary Directory have completed TRACE Certified Due Diligence or renewed their verified report within the last year. All entities have provided their consent to appear in the public list. Users may request and obtain TRACE Certified Due Diligence reports for third parties in the Intermediary Directory at no cost.
Managing Third Party Risk: Only as Strong as Your Weakest Link
author: TI-UK
This guidance, part of a continuing series of anti-bribery publications by Transparency International UK (TI-UK) and Transparency International USA (TI-USA), aims to provide companies with recommendations for best practice for countering bribery in their supply chain. Although aimed at larger companies, the content may be helpful to small and medium enterprises (SMEs) as well as regulators, lawmakers, prosecuting agencies and professional advisors.
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Third Party Anti-Bribery Screening Framework and Chart
author: TI-UK
This six-page process chart from TI-UK set out example procedures for screening, engaging and managing third parties. The procedures outlined are not exhaustive, but aim to cover the key elements of the framework outlined in the guide, Managing Third Party Risk: Only as strong as your weakest link.
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9 steps to effective third-party due diligence
Author: Lexis Nexis
Faced with complex, global third-party networks, it’s more critical than ever for you to have an effective strategy for evaluating and monitoring third-party risk. This guide from Lexis Nexis outlines nine steps for an enhanced due-diligence process to ensure you have the insights needed to avoid financial and reputational harm due to third-party relationships.
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ICC Guidelines on Agents, Intermediaries and Other Third Parties
author: International Chamber of Commerce (ICC)
These guidelines refer to the provisions of the ICC rules for combating Extortion and Bribery, indicating that enterprises should take measures within their power to ensure agents agree explicitly not to pay bribes and that enterprises maintain records of all agents retained
MEDIA
GAN Integrity Webinar
Common Due Diligence Pitfalls
TRACE Podcast
Bribe, Swindle or Steal
Author: GAN Integrity
This 60-minute on-demand webinar from GAN Integrity provides best practices and practical recommendations to help businesses address the complex demand for third-party due diligence. Find out how to avoid common due diligence mistakes made by organizations of all sizes, sectors, and geographies.
Author: TRACE
Bribe, Swindle or Steal explores the world of financial crime—corruption, fraud, money laundering and sanctions—and what motivates people to break the law, how wrongdoers cover their tracks and what can be done to put a stop to the looting through interviews with experts in the field.
Listen to podcast. Search for : Common Due Diligence Challenges: Pia Vining
Other Tools on Third Party Due Diligence
View all available tools. We also invite you to submit a new tool for our tool box.