The New Era of Regulatory Enforcement: A Comprehensive Guide for Raising the Bar to Manage Risk
With all Olympic Games venues and services financed with federal funds under investigation amidst Brazil’s political and economic turmoil, the world at large is questioning the country’s true readiness for the Olympics come August. This unique convergence of events — the impeachment of their President, an event set upon a global stage, the largest corruption scandal the country has faced, etc. — offers a glimpse into the immense impact such corruption can have on not only a country’s government but their economy as a whole as well.
Recently teaming up to write The New Era of Regulatory Enforcement: A Comprehensive Guide for Raising the Bar to Manage Risk [McGraw-Hill Education, 2016], Richard H. Girgenti, J.D., National and Americas Leader for KPMG LLP’s Forensic Advisory Services and Timothy P. Hedley, Ph.D., KPMG’s Global Lead for Fraud Risk Management Services, have closely analyzed the key events that have played a role in shaping what they refer to as this ‘New Era’ in the regulatory landscape over the past 15 years. Girgenti and/or Hedley discuss:
- Lessons we can learn from Brazil and their corruption scandal
- To what extent has this corruption had an impact on the Olympics (from stadiums to security contracts and more)
- How this corruption is impacting Brazil’s economy as a whole, from the taxpayer to multinational companies doing business abroad
- Could this event be at the possible start of a new “New Era”?
Mitigate risk and achieve high-level business performance in today’s regulatory and enforcement environment
In his 2021 year-end letter, Baupost's Seth Klarman looked at the year in review and how COVID-19 swept through every part of our lives. He blamed much of the ills of the pandemic on those who choose not to get vaccinated while also expressing a dislike for the social division COVID-19 has caused. Q4 2021 Read More
The outset of the 21st century has seen a relentless flow of events from the 9/11 terrorist attack to the 2008 financial recession that have given birth to a new regulatory and enforcement landscape. In today’s global and digital world, this increasingly complex landscape has created unprecedented challenges and risks for businesses in all industries.
The New Era of Regulatory Enforcement provides an overview of the challenges companies face in conducting business in this new environment. It discusses the government policies, strategies and tactics driving enforcement activity and outlines the most effective approaches for preventing, detecting, and responding to the risks presented.
Authors Rich Girgenti and Tim Hedley–two highly experienced professionals at KPMG who daily work with organizations around the globe to help them understand and manage these challenges–draw upon their years of experience in both the private and public sector to provide an overview of the new regulatory and enforcement landscape and a framework for compliance. Assisted by a team of subject matter professionals, the book covers a broad range of topics including:
- bribery and corruption
- money laundering and trade sanctions
- market manipulation
- financial reporting fraud
- off-shore tax evasion
- unfair and abusive consumer finance practices, and
- fraud and misconduct in the Healthcare and Life Sciences industries
Prudent and diligent organizations must take the necessary steps to preserve the hard-earned value of their companies. In doing so, they will not only help improve their chances for sustainable business success, but also create benefit for their employees, shareholders, customers, and the public at large.