Risck management in commercial contracts: strategy or compliance?

Abstract

As it is well known, risk assessment, or compliance risk mapping, is one of the most important steps when implementing an integrity program. That is because it is in itself where all the rich potentials and their impacts on the achievement of the company’s objectives are recognized. The great concern isthat risk management, with regard to business contracts, is still seen as an only business strategy, and not as a pillar of a compliance program. In other words, the legal sector of a company is still currently seen today carrying out the strategic management of risk assessment of business contracts, but without proper integration within the company’s compliance program. Therefore, the proposal of this article manifests itself in the context of the effectiveness of risk management inside private institutions and negotiations with the public sector, in order to perform the actions of identification, analysis and risk assessment something practical and allied to the compliance program, bringing on greater profits with the benefits of this important technique.