In a post-pandemic work environment, the key question remains: Which business challenges, risks and opportunities will change anti-bribery and corruption programs long term? As we come out of the pandemic, organizations must adopt lessons learned from the greater use of remote monitoring of third-party relationships and remote trainings, as well as maintain their focus on identifying and addressing emerging risks in their supply chains. Environmental, social and governance (ESG) and anti-bribery and corruption (ABC) compliance will continue to converge because of their shared opportunities for good governance, as well as the growing calls for standardization, transparency and regulation.
When we look back on 2022, our hope is that the year is a pivotal moment for the compliance function in several ways, not only for how multilateral sanctions are used but also a renewed focus for governments and societies in the fight against corruption. The challenge of expecting private companies to enforce sanctions presents an opportunity to improve corporate data and drive greater transparency that ultimately will deliver accountability in the corporate environment for many of our clients. Additionally, with the increasing emergence of blockchain technologies in ABC programs, the road toward compliance resilience and transparency is potentially optimistic and achievable.
During this time of ongoing change, the role of the compliance function to safeguard their organizations against risk has never been more vitally important to all those who are responsible for regulatory requirements around the globe.
