Gestão de risco e compliance: um influente instrumento frente à fraude corporativa

Abstract

One of the main objectives of a company's management is to maximize profits and its market value through its actions. For this to happen, a good risk and compliance management system and a compensation system for your “agent” are required. In view of this matter, the Agency Theory points to the risks of occurrence of agency costs in companies, specifically addressing the interests and powers involved in the relationship between the “agent” and the “principal”. Often, the interests of the "principal" are not aligned with those of the "agent", causing decisions to be taken by the "agent" that may cause some type of advantage, but that harm the company, and consequently, the "principal". In this sense, the objective of this research is to analyze how the practice of risk management and compliance can prevent corporate fraud in Brazil, and how these processes are being applied in the light of the cases of fraud that have occurred in the last 10 years. The research methodology was qualitative analysis, based on the theoretical foundation on corporate fraud. The target audience for this research is internal, external auditors and consultants. The research method is the semi-structured interview. The interview was developed to obtain information on the practice of Risk Management and Compliance in the face of corporate fraud and the application and scope of the anti-corruption law in companies, as mechanisms to minimize the occurrence of agency conflict. The result of the research shows that Risk Management and Compliance tools are more present in large companies and regulated companies, while in medium and small companies their adherence is subject to market impositions and not for the purpose of mitigating operational or fraud risks. Regarding the motivations against fraud in large and regulated companies, it was observed that these companies have adhered to and applied new procedures of the Anti-Corruption Law and the Integrity Program, more by imposition of the legislation, and not to detect or mitigate the occurrence of fraud.