Risk Management



This course will be valuable to MBA and MAcc students interested in working for global businesses, regardless of their desired career paths. As business organizations continue to seek growth in markets outside the United States and Western Europe, they will face increasingly complex and difficult challenges, including compliance with U.S. and foreign criminal and civil laws in places that are corrupt. Compliance with the U.S. Foreign Corrupt Practices Act, which forbids businesses from providing certain benefits to government officials, is essential for global organizations, as penalties are severe. And to succeed in their careers, auditors will need to understand that businesses in certain geographic areas maintain multiple sets of books and hide bribery and tax fraud schemes. Strategic planners and supply-chain professionals will face cross-border risks, including demands by government customs and tax inspectors for bribe payments. Energy executives will confront violence, corruption and supply-chain problems in many oil and gas-producing areas. Sales professionals will confront demands for kickbacks. The course will cover these issues, and will provide students with the knowledge and compliance tools necessary to advance their professional careers in a global economy: why culture and geography matter in business; fraud and corruption issues in emerging economies; why the Foreign Corrupt Practices Act matters; using Transparency International as a tool to assess risk; red flags for international organizations; fraud and corruption issues in mature economies; compliance strategies for global organizations – policies, procedures, training, due diligence, audit; why macro issues of politics and corruption matter to business executives; crisis management; security issues.

Prerequisites: None.