Deloitte audit study involving 100 companies of different sectors and sizes did an electronic questionnaire between May and June this year. The investigation revealed that due to corruption scandals that have undermined the credibility of many Brazilian companies in the past two years, many companies are ready and dedicated to raising the risk monitoring levels in 2017.
The detailed analysis of this study was done by Bruno Fagali a member of Fagali Advocates. Bruno Fagali added that the companies which have adopted the anti-corruption mechanism rose from 59% as per the 2015 survey to 73% this year. He also said that according to Deloitte’s analysis, the management of unethical conduct and fraud rose from 61% in 2015 to 81% this year. The analysis according to Fagali indicated that data such as monitoring of electoral campaigns or political parties is 69% of all the participants of the latest survey.
Attorney Bruno Fagali reiterated that the companies had to find ways to raise the level of maturity and fight unethical practices since the surveys show that there is an increase in percentages despite the fact there are methodological differences between the surveys. Bruno Fagali noted that about 49% of the companies analyzed had implemented actions to improve. He also reported that according to the survey done by Deloitte, for firms to maintain performance, they have to watch out the regulatory aspects of items linked to the fight against corruption which is cash flow and accounting. He added that they lack in strategic risks which refer to analysis and reputation of market competition which relates to digital exposure.
Bruno Fagali is an Attorney in Brazil who is a Member of the Society of Corporate Compliance & Ethics. He is a specialist lawyer in Compliance, Anti-corruption Law, Public Law (Urban, Constitutional and Administrative), Parliamentary Law, Advertising and Electoral Law. He is a Founding partner of Fagali advocacy. Bruno Fagali is currently pursuing his masters in Law at the University of Sao Paulo. After finishing his high school education in 2002, Bruno Fagali studied Law at the Pontifical Catholic University of Sao Paulo between 2004 and 2009. He studied Specialization in Administrative Law between 2010 and 2012 in the same university.
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