Corporate Compliance
Many publicly held companies have prepared internal compliance programs for risk avoidance purposes. As such, smaller, private businesses can also benefit from preparing and implementing a compliance program. A compliance plan can particularly benefit smaller businesses seeking future IPO or acquisition as such will ensure risks are avoided and/or conflicts are minimized. Generally, a business compliance plan may include:
- Instituting standards and procedures to prevent and identify internal criminal conduct
- Designating a party who will act as “owner” of the compliance program and will be responsible for monitoring the daily operations of the program
- Establishing evaluation measures to ensure that individuals with oversight authority have not participated in illegal activities or acted in violation of the program
- Properly training employees to comply with the compliance program on a daily basis
- Completing a periodic review of the program and providing employees a process to anonymously report potential violations without fear of retaliation.
- Consistently enforcing the program via incentives and disciplinary measures
- Immediate response to discovering criminal conduct
Luftman, Heck & Associates will work closely with your business to prepare a customized compliance program to assist in maintaining high corporate standards and deterring compliance violations at all levels of your company.
