Compliance can no longer be viewed in isolation of the rest of the organization as some function off to the side to keep an organization out of jail! Compliance has become part of the overall business strategy of ANY operations or organization, no matter how big or small.
Compliance in legal terms means to conduct your business in accordance with an internal policy, or an international regulation or any applicable instruction either external or internal.
In addition to this it can be expanded to include compliance with contractual obligations, permit conditions and trading conditions. The definition of legal compliance, especially in the context of corporate legal departments, has recently been expanded to include understanding and adhering to Codes of Ethics within entire professions.
As a company based in Iran or if you are dealing with Iran, you need to ensure that every business conduct and transaction is complied with applicable both legal and international regulations, policies and procedures.
International companies doing business with Iran must ensure that they follow not only their internal policies but the international regulations addressing corruption, bribery and Anti-money laundry.
The areas in which Legal- Compliance services can cover are:
- Code of Business Ethics
- Anti-Money Laundry
- Personal Data Protection Privacy
Third Party Risk Assessment:
An effective third party risk management program will make your business safer and more secure. You’ll be able to identify and monitor current and future business partners risks while improving transparency in controls and related activities.
In our Third Party Risk Assessment process we review corporate standing, company structure, shareholders, board of directors, tax and VAT status, Banking and credit status, sanctions and watchlist search , etc. helping you to:
- Assess and mitigate your risk of business conduct
- Increase the efficiency and effectiveness of third party risk management.
- Develop a risk protocol to highlight risks by vendor.
- Implement and conduct effective Third Party Risk Assessment such as vendor assessments.
By implementing a comprehensive third party review, we’ve helped our clients prevent or recover from third-party raised risks that protects your brand – and your business.
Internal Audit and Code Violation investigation:
In case of a code violation concern and in order to ensure implementing Attorney- Client privilege, the investigation can be and is recommended to be out-sourced.
We are trained in code violation investigations and we provide our clients with the full investigation report fully subject to confidentiality.
The first step in implementing compliance mindset in the organization is to conduct customized trainings for the employees as well as high risk third parties/ business partners.
We conduct trainings both in English and Persian based on international regulations, companies internal policies and nature of business.
For more information regarding compliance CONTACT US.