Last year, the topic of company compliance and governance stirred reactions from different sectors. In particular, these firms were in the public spotlight for their massive corrupt activities both in the private and public sectors.
But as a Brazilian lawyer Bruno reports, these entities have to raise their concerns on the compliance issue. For instance, firms have been using mere obligations, with no action, to operate within the provision of the law and market requirements.
According to lawyer Fagali, many companies might fail to integrate compliance in their guidelines as time passes. This is also noted by Renato dos Santos of S2 Consultoria, who notes that compliance programs are slowly extinguishing from companies’ agendas. These firms only rush to meet the requirements by laws against corruption but fail to preserve the real spirit of compliance – which needs to be part of their structures and guidelines.
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While compliance might not remain a topic of organizational focus after some time, Fagali advises that these organizations can implement specific measures. For example, they can focus on a monitoring system that cannot die out with time. Such a system would incorporate the organization’s routine with tailored integrity programs. Besides, the program should connect with other aspects of the firm such as auditing, account departments, human resource management, and legal department.
The introduction of MBA courses integrating compliance studies as a topic is also in line with achieving real fruits for an organization’s compliance efforts. This move will encourage upcoming executives and entrepreneurs to understand and create new and useful methods of influencing compliance. In fact, the topic has always been a challenge to organizations globally and making it a compulsory subject in MBA systems would yield better results.
About Bruno Fagali
Bruno Jorge is a promising Brazilian lawyer experienced in broad aspects of law such as administrative, urban, and regulatory law. Besides, he is an expert in the field of compliance for organizations. Since 2006, he has worked with different law firms in addition to his firm Fagali Advocacy. Besides, he is an integrity manager for Nova/SB in the corporate field where he has made an impressive reputation. He can speak with four different languages.