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Corporate Compliance Training Takes Center Stage in Brazil

In today’s fast-paced and complex business landscape, corporate compliance training has become a critical tool for companies operating in Brazil to mitigate noncompliance and fraud risks, protect their reputations, and ensure sustainable growth.

The Importance of Ethics and Compliance Programs

According to Deloitte, ethics and compliance programs are no longer just a necessary evil, but a dynamic, strategic, and flexible approach that requires constant evolution to keep pace with changing regulations and risks. The firm’s compliance experts recommend implementing codes of conduct, robust denunciation channels, policies and procedures, certificate-granting training programs, compliance tests, and work synergy with internal audit departments and risk management teams.

Complying with Brazilian Regulations

In Brazil, Deloitte’s ethics and compliance program is fully compliant with the Anticorruption Law (Law No. 12846/2013) and Decree 8420/15, which requires companies to adopt internal mechanisms and procedures for integrity, auditing, and reporting irregularities. Internationally, the Foreign Corrupt Practices Act (FCPA) and the British Bribery Act (UKBA) are also relevant.

Building an Ethics and Compliance Program

A global ethics and compliance program can be structured based on internationally recognized guidelines such as the U.S. Federal Sentencing Guideline or COSO. It should encompass operational ethical compliance and legal and regulatory compliance, as well as address various aspects of compliance, including industry-specific, geographical, strategic, and operational excellence.

Compliance Training Generates Value

Corporate risk alignment is critical to ensure that companies are operating in a compliant manner. Compliance training can help generate value by:

  • Addressing compliance for everyone
  • Focusing on specific industries or geographic areas
  • Implementing strategies for operational excellence

Conclusion

In conclusion, corporate compliance training is no longer an afterthought but a vital component of any organization’s strategy to ensure sustainable growth and protect its reputation. Companies operating in Brazil must prioritize ethics and compliance to avoid noncompliance and fraud risks, and Deloitte’s expertise can help them achieve this goal.