KIAP employees carried out a compliance audit of one of the leading developers in Russia, with which a European corporation intended to implement a joint investment project.
In particular, the developer’s beneficiaries and their presence on the sanctions lists were subject to verification; anti-corruption and ethical standards and practices for their application; risks of the conflicts of interest and the communications of the developer and their management with political figures, key contractors, and clients; money laundering risks; litigation risks; facts of criminal prosecution of management; as well as the stability of the developer’s financial status.
Since the presence of an appropriate compliance system and the reliable reputation of counterparties are fundamental for our client, the audit results received from KIAP influenced their decision regarding participation in the joint project.
Participants: