Avoiding Covid-19 related misconduct | Guidance to Legal and Compliance Departments

The ongoing pandemic puts businesses under massive strain. At the same time, it opens the door for bad actors inside and outside a company. Possible misconduct spans from misrepresenting accounts to meet shareholder expectations, pre-pone payments to meet sales targets, obtain government support by fraud, fix prices with competitors, to name just a few. 

Join us, international forensic accounting experts Forensic Risk Alliance and lawyers from 
Schoenherr, to find out about the most common misconduct and what you can reasonably do to detect misbehavior. We will share our experience and talk about:

COVID fraud and misconduct risks (external) 

• Increased pressure, opportunity and rational (the fraud triangle)
• Channel stuffing or accounting misstatement in order to meet sales targets or banking covenants
• Fraudulent use of government COVID assistance schemes, e.g. furlough and government backed loan schemes
• Physical stock loss as less eyes on the ground
• Increased use of intermediaries as travel restrictions prevent visiting potential clients directly
• Supply chain disruption leading to new inappropriate suppliers
• Antitrust risks (unilateral and multilateral conduct)

Compliance measures 

• How to overcome the difficulty of surveillance with people working remotely 
• Revise risk assessment and fraud awareness training
• Third party due diligence and lines of defense which must adapt
• Staff monitoring vs trust
• Limits of auditing firms

You can register for the webinar here.