Overview
The Anti-Corruption Report quoted Yousuf Aftab in an article titled, "Risk Assessment for Trump 2.0: Employing Data and Emerging Technologies." The article explores how corporations can modernize their compliance risk assessments in an evolving enforcement environment. It argues that traditional, static frameworks are no longer sufficient and recommends an adaptive approach that leverages actionable data, emerging technologies, and tailored KPIs.
Speaking to The Anti-Corruption Report about taking a holistic approach to data, Aftab said: with risks involving modern slavery and human rights, "companies now always need to consider what is called salience or double materiality. In European regulation, that means how serious the risk is to those who might be affected and, therefore, the metrics for that are the likelihood of the harm occurring, the nature of the right that might be impacted, the people that might be impacted and how likely it is that harm, if it materializes, could be remedied."
As companies reassess risk in light of evolving expectations, approaching compliance measurement with clarity becomes ever more important. "There are a lot of ways, ultimately, to develop indicators around salience or double materiality, but the main point is that a company needs coherence, or consistency, in what it does," Aftab said.
Read the full article in The Anti-Corruption Report (Subscription Required).
