OEC presents Compliance actions at event in Bahia

“The actions of third parties on behalf of the company are the responsibility of the company, as are the actions of its members.” The statement was made by OEC’s Compliance Officer for the Americas (except in the Brazil, Argentina and Bolivia markets), Marcos Neves, during an event held by the Compliance Committee of the Bahia School of Law. The meeting was held on Monday evening, January 6, and was attended by representatives from public agencies, private companies and the third sector, such as the Federal Police, Salvador’s City Hall and Sister Dulce Social Works (OSID).

During his lecture, which had as its theme “Due Diligence: importance and challenges“, the OEC executive presented the conceptual evolution of the contracting and management of third parties, which a few years ago was focused only on the registration aspects and today also covers issues related to the integrity and compliance programs of the organizations.

“The issue gained even more relevance in Brazil with the Lava-Jato operation, which identified that many acts of corruption involved third-party actions. Today the subject of due diligence is highlighted in international best practices and anti-corruption legislation, such as the FCPA, UK Bribery Act and ISO 37001,” Neves revealed.

Also during his presentation, the specialist, who has over 20 years of experience in the areas of compliance and finance, revealed that in 2019 the company carried out 13,278 due diligences of suppliers of goods and services, being 1.4% classified as high risk.

The OEC Compliance program highlights third party compliance as a key item in preventing acts of corruption. As an example, the classification of suppliers is based on a rigorous risk assessment, which includes a review of reputation and integrity, raising the level of investigation for the more critical cases.

“However, it is important to note that, as recommended by ISO 37001, the due diligence process is not a perfect tool. The absence of points of attention does not necessarily mean that the third party cannot cause a risk, nor does the identification of points of attention necessarily mean that the third party cannot be contracted. It is necessary to carefully evaluate the results obtained in the due diligence process in order to substantiate their contracting or not”, Neves sentenced.

The meeting also included a lecture by teacher and psychotherapist Victoriano Garrido, who addressed the theme “Emotional Compliance”. The Bahia School of Law Compliance Commission is chaired by lawyer José Guimarães.