When the COVID-19 pandemic struck the US in March 2020, office environments, supply chains and traditional ways of doing business evaporated in mere weeks. Many organizations were forced to alter their processes to adapt to a quickly changing environment or risk their business operations failing. Ultimately, business continuity took precedence so that organizations could continue to operate as business as usual, and therefore, risk-remediating controls may have been sidelined.
As organizations now prepare to head back into the office and embark on post-pandemic business operations, individuals charged with governance should consider whether their anti-fraud compliance programs are robust enough to handle the additional risks posed by the pandemic. In this Law360 article, Rachel Berk and Matt Rutter consider relevant risks including vendor fraud, corruption, attrition and eroding compliance culture, and financial reporting fraud, along with accompanying solutions and risk mitigating activities for compliance professionals to contemplate as the pandemic subsides and companies plan their next move.