Methodology for Conducting Third-Party Risk-Based Due Diligence in the Construction and Civil Engineering Industry

Roy, Vincent; Desjardins, Dominique; Fertel, Camille; Ouellet-Plamondon, Claudiane

doi:10.1061/(asce)la.1943-4170.0000553

Cited by 3 publications

(2 citation statements)

References 33 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Corruption is defined as the use of positions of trust for personal gain. This definition, which includes three key elements of corruption, is adopted by Transparency International: 10 1. Public and Private Sectors: Corruption can occur in both the public and private sectors, including media and civil society actors, and can involve individuals, companies, organizations, and political parties.…”

Section: Anti Corruption and The Environmentmentioning

confidence: 99%

United Nations Convention Against Corruption as a Tool to Overcome Cases of Environmental Corruption

BIRKAH LATIF et al.

2023

RLJ

View full text Add to dashboard Cite

In an effort to eradicate corruption, countries including Indonesia have made efforts, one of which is by ratifying UNCAC through Law no. 7 of 2006. UNCAC is expected to complement the anti-corruption movement, which is still lacking from the regulation of the internal state regulations. This study aims to examine how UNCAC becomes a global instrument to prevent corruption and also to become a tool in overcoming specific corruption cases related to the environment. The method used in this study legal research normative. The results of the research show that the cases of corruption have a negative impact on the government and even the economy as well as on particular of environmental management of the state. The environment then becomes damaged and degraded by corrupt behavior that being driven by personal gain. Through this UNCAC instrument, it is hoped that law enforcement, both preventive and repressive in nature, will be able to overcome cases of environmental corruption that have harmed the state and society.

show abstract

Section: Anti Corruption and The Environmentmentioning

confidence: 99%

United Nations Convention Against Corruption as a Tool to Overcome Cases of Environmental Corruption

BIRKAH LATIF et al.

2023

RLJ

View full text Add to dashboard Cite

show abstract

“…Due diligence is for investors like a two-dimensional concept, which draws from theoretical and legal research with the aim to deduce clear and enforceable obligations to themselves and those who influence their investments (Rivas-Ramirez, 2022). The protection of enterprise is a contemporary trend, as the third party may take part in an unlawful conduct, which results in a wrong conduct in terms of ethics and legislation compliance (Roy et al, 2022). It has become an important factor in determining whether the reasonable expectations of investors result in a protection in accordance with FET standard.…”

Section: Introductionmentioning

confidence: 99%

Role of due diligence in business takeover

Vochozka,

Máška,

Kovač

2023

EiP

View full text Add to dashboard Cite

Motivation: The topic of the article is of paramount importance in today’s ever-evolving business landscape. As companies strive to expand their operations and stay ahead of the competition, mergers and acquisitions have become a popular strategy. However, the risks and complexities associated with these transactions cannot be overlooked. Understanding the role of due diligence is essential for any organization considering a business takeover. It serves as a powerful tool to uncover potential risks, assess the viability of the transaction, and make well-informed decisions. By conducting a thorough due diligence process, companies can identify financial discrepancies, legal liabilities, operational inefficiencies, and hidden risks that may impact the success of the transaction.Aim: The goal of the research was to analyze to what extent is the resulting value of a business is affected by improperly performed due diligence. The method used for data collection was in-debt literature research based on the Web of Science database. Subsequent content analysis was used to identify the 10 most common errors that can occur during the process of due diligence. The following research used the data obtained from answering the first research question with. Ishikawa fishbone diagram was used as a specific method of causal analysis.Results: The main findings include the identification of the most common errors occurring during the performance of due diligence, such as wrong financial analysis, incomplete financial accounts, Incomplete accounting statements, or adjusting entries for receivables. The main causes include excessive work pressure on auditors, past due receivables, poor supplier vetting, or failure to document the application of prices. The research is beneficial for auditors or audited companies so that they could avoid such errors. However, there are also several limitations as it is very time and cost-consuming to deal with due diligence on a company-by-company basis. Also, the application of Ishikawa fishbone diagram and brainstorming prior to diagram depends on the number of experts involve. Another limitation is that the research results applied under current accounting legislation only, and there are different laws and regulations in different countries.

show abstract

Due diligence in the aspect of countering financial cyber fraud: modeling trends

Dotsenko,

Yarovenko,

Berezhna

2023

EH SHEI USUCT

View full text Add to dashboard Cite

The article emphasizes that financial cyber frauds pose a significant risk to the financial and economic security and stability of modern business entities. It was emphasized that in order to prevent fraud, in order increase the efficiency of economic activity, it is necessary to introduce a system of reliable protection of subjects based on the application of various mechanisms and tools, which include proper verification of the functioning of enterprises. Goal of the study is to determine the latest trends in modeling the fight against financial cyber fraud based on the Due Diligence methodology. The relevance of determining the latest trends in the modeling of combating financial cyber-fraud is that the study of the financial protection system, including through the application of such a verification procedure as Due diligence, will contribute to the improvement of the financial cyber protection of the enterprise. The interpretation of the concept of due diligence has been formed, its normative basis has been outlined, a number of stages and features have been developed regarding the implementation of due diligence, a structural and logical scheme of the stages and features of the implementation of due diligence of enterprises has been built. Modern methods of modeling due diligence and modeling approaches for countering financial cyber fraud are described. The advantages of the implementation of the complex Due Diligence methodology in the aspect of combating financial cyber fraud for enterprises have been determined. Theoretical research methods - empirical research methods - observation, description; grouping, abstraction; the resource base of the information platform; Bizagi Modeler software. The obtained results of the research can be practically used at enterprises for the formation of guiding principles and policies for the financial security of enterprises, which in turn will help to reduce the level of negative consequences, including financial cyber threats, financial cyber risks that may be present in business processes; to maximize possible positive effects from the adoption of management decisions formed taking into account a number of factors.

show abstract

Methodology for Conducting Third-Party Risk-Based Due Diligence in the Construction and Civil Engineering Industry

Cited by 3 publications

References 33 publications

United Nations Convention Against Corruption as a Tool to Overcome Cases of Environmental Corruption

United Nations Convention Against Corruption as a Tool to Overcome Cases of Environmental Corruption

Role of due diligence in business takeover

Due diligence in the aspect of countering financial cyber fraud: modeling trends

Contact Info

Product

Resources

About