Much has been written about the rising number of Foreign Corrupt Practices Act (FCPA) enforcements during the past couple of years and the impact it's having on the corporate compliance landscape. Many organizations already know that there is a pressing need to establish an FCPA compliance program to address this very real business risk.
Instead of focusing on the risk and the need to comply with the FCPA, organizations need to answer the question of how to make their compliance activities efficient, cost-effective, and sustainable.
One way to address this challenge is for organizations to turn to their internal control assessment experts -- internal audit -- to provide guidance on this business risk. Internal audit is uniquely positioned to help the business understand and navigate the risks of FCPA across the organization. Effective data analysis techniques used by internal audit departments raise visibility around potential violations and can help management focus attention on the right places.