Business inspections

Transcription

1 Business inspections We can help you with risk prevention and compliance We add the value you need

2 Are you prepared for an inspection at your company? Regulatory changes to corporate governance included in the new Corporate Enterprises Act, the recent Audit Act or in reforms to the Criminal Code, together with increased efforts for greater control by Government departments, acting on many occasions without prior warning, means that it is difficult for companies to respond quickly, effectively, consistently and efficiently to business inspections. Even when notification is given, a company s response to inspectors unexpected requirements is often inadequate. culture of risk prevention, control and compliance is required, enabling your company to respond in advance and clearly to each of these questions: How should I react? Who can help me? What should I do? What should I not do? Inspectors and justice department professionals are taking more frequent action, which is complicated to deal with as it affects very different areas within the company, including competition, employment and tax compliance, anti-money laundering, data protection, grants and copyright. We know from experience that companies need to be aware of the basic aspects regarding the authorities control and inspection processes and which procedure to follow. Am I prepared for an inspection at my company? In order to manage a business inspection successfully, a Why is the inspection being carried out? What authority do the inspectors have? How long will it last? Who is involved? 8key issues I should know about an inspection What are the limits of the inspection? Can I object? Which areas can be inspected? Will I be notified in advance about the inspection?

3 Four steps to an efficient response To a large extent, the final outcome of an inspection depends on how the investigated company has managed the process and the coordinated action taken by all its employees. PwC has created a four-step solution to help your company respond quickly and appropriately in these situations: Diagnosis Drawing up an Action Plan 1 2 Preventive review of the risk of not complying with applicable regulations in different areas (competition, grants, anti-money laundering, data protection, copyright and employment) based on the company s business and an analysis of the internal procedures and policies in place to ensure compliance. Preparing an Action Plan for Business Inspections that enable the relevant people in the company to carry out their tasks quickly and efficiently. Action Plan Identify offices or premises that are likely to be inspected. Define what needs to be done from the start to the end of the inspection. Specific measures to adopt if there is an unannounced inspection by the authorities. Describe and allocate tasks to the different departments and people involved in the inspection. Prepare a methodology that enables inspectors to access the required information quickly. List the inspectors powers and limitations. Understand the rights and obligations of the company being inspected. Consider specific rules in the event of potential legal investigations or orders.

4 Training those involved Advice during and after the inspection 3 4 Technical training sessions for company managers and department staff involved in an inspection so that they can coordinate and/or execute the previously defined Action Plan. Provide legal advice to company managers and/or those involved in the inspection so as to comply with the information requests made by inspectors and, where applicable, to provide advice before the start of legal or penalty proceedings. Advantages for your company A framework defining the roles of those involved in the event of an inspection or legal investigation. Agile inspections with low reputational impact on your company, minimizing the risk of fines or convictions. Create a framework for partnership and transparency with inspectors, benefiting your company. Avoid making rash and incorrect decisions during the early stages of the inspection that could have a negative impact on the outcome. Minimize the impact of the inspection process on your company s day to day operations. Understand and assess all legal safeguards provided by the law with regards business inspections.

5 Why PwC Because PwC offers a solution that is fully aligned with your company s needs: Experts in risk prevention and compliance Our team of professionals are specialists in the areas of risk prevention and compliance and they are backed up by PwC s experience and expertise in internal audit, risk management, reporting, business strategy, processes, remuneration, corporate governance, legal and tax. Proven experience in all kinds of business inspections Our extensive experience advising companies about inspections in all areas is yours to use. Our specialists are experts in the fields of competition, employment, tax, anti-money laundering, data protection, grants and copyright, amongst others. Our perspective is not just about the strictly legal aspects of the process PwC is the only firm that can give you a broader view of your inspection beyond the legal aspects, and offer you other insights thanks to our multidisciplinary teams which include lawyers, tax experts, auditors, consultants and IT experts. They are all specialists in your sector. For further information, please contact: Patricia Manca patricia.manca.diaz@es.pwc.com Daniel Tomé daniel.tome.arostegui@es.pwc.com

6 At PwC, our purpose is to build trust in society and solve important problems. We re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at PricewaterhouseCoopers S.L. All rights reserved. PwC refers to (incluir la sociedad legal correspondiente), member firm of PricewaterhouseCoopers International Limited; each of which is a separate legal entity. Please see for further details.