The Red Flag Group Launches Due Diligence Co-Op Programme and ComplianceCredit(TM) Rebate Plan
Industry-first service model will allow companies to save costs by sharing FCPA due diligence reports
SAN FRANCISCO and HONG KONG, Aug. 24 /PRNewswire-Asia/ -- The Red Flag Group, a leading compliance advisory, due diligence and technology firm, today announces the launch of a revolutionary service model in how due diligence services are provided.
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The Red Flag Group's Due Diligence Co-Op Programme is designed to help companies, who conduct FCPA/Anti-bribery due diligence investigations on a frequent basis, save money. This is accomplished through the sharing of due diligence reports by companies who have requested investigations to be conducted on same target. Once accepted to the programme, members can access due diligence reports commissioned by other members at a discounted rate. Programme members who originally initiate a due diligence report, that is accessed by another client, will receive a rebate in the form of a ComplianceCredit(TM).
"If you are operating in an industry where your peers are using the same set of distributors, it's an incredible waste of money and resources for multiple companies to do a fresh FCPA due diligences on the same distributor. We believe this solution will allow companies to comprehensively address their third-party risk in today's compliance-conscious business world, but at the same time do it in a cost-conscious manner," said Martin Jungclaus, Director of Due Diligence at The Red Flag Group.
The programme is also ideal for companies seeking expedited access to timely (but "less then brand new") due diligence information at a reduced rate, rather than wait for a completely new due diligence investigation to be carried out at full price.
"At The Red Flag Group, we pride ourselves on providing innovative and value-adding compliance solutions to our clients, and this is reflected in the new programme that we are launching today. By being both cost-effective and readily available, our industry-pioneering programme creates win-win scenarios for compliance and legal professionals who must balance the need to be thorough in eliminating third-party compliance risk, with on-going budget demands that are characteristic of businesses navigating the fragile global economic recovery. We are proud to be on the cutting edge of the provision of new compliance service concepts to our clients," said Scott Lane, CEO of The Red Flag Group.
Programme membership will be subject to minimum annual search requirements and acceptance of programme terms and conditions.
To find out more about the programme, visit http://www.redflaggroup.com .
Notes for editors:
About The Red Flag Group
The Red Flag Group is one of the world's leading independent corporate governance and compliance firms providing thought leadership around compliance to Fortune 1000 companies. Their main goals include helping companies develop and maintain efficient and effective governance and compliance programmes in emerging markets, as well as providing professional due diligence services to companies around the world. The firm consists of ex in-house counsel and compliance officers and have offices in the US, Hong Kong, Sydney, Singapore, London, and Dubai. For more information, go to http://www.redflaggroup.com .
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SOURCE The Red Flag Group
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