Welcome to Episode 7 of Compliance Man Goes Global podcast of FCPA Compliance Report International Edition. In this episode, we will focus on typical mistakes, which Compliance officers do sometimes. We will explore this matter in a plain language so to say and in the simple game form. Moreover, to make the podcast and text more appealing, will also illustrate today’s episode with an illustration from the Compliance Man illustrated series, created by Timur Khasanov-Batirov.
For those of our listeners who are not aware about our format, in each podcast, we take two typical concepts or more accurately misconceptions from in-house compliance reality. We check out if these concepts work at emerging jurisdictions. For each podcast, we divide roles with Timur, a practitioner who focuses on embedding compliance programs at high-risk markets. One of us will advocate the concept identifying pros. The second compliance man will provide arguments finding cons and trying to convince audience that that we face a pure myth. As a result, we hopefully will be able to come up with some practical solutions for in-house compliance practitioners.
Myth 1-There is no practical way to improve Compliance program. This is just a fancy and useless statement. In corporate practice, it is just unreal.
Myth 2-As compliance practitioners, we should draft and amend exclusively compliance policies. The list of such policies is well known and is exhaustive like code of ethics, gifts policies and alike. There is no need spare time for reviewing corporate policies beyond our Compliance Policies List.