Video January 14, 2014

Roberto Braceras Discusses Corporate Investigations and the Role of the Board

In this episode of The Directors Letter’s Boardroom Video Series, Goodwin partner Roberto Braceras discusses the responsibilities of the board in any corporate investigation. Joining him are Frank Libby, a former federal prosecutor and founder of the law firm LibbyHoopes, and Darren Donovan, a partner in KPMG’s forensic practice.

They discuss the following:

  • The basis for a corporate investigation: bribery, health issues, taxes, consumer impact, FCPA, revenue recognition and employee misconduct.
  • How does the event come to the board’s attention? Direct internal report, whistleblower, agents at the door and subpoena.
  • First action: gather the facts, determine whether to implement changes in company practice, preserve documentation, assess the impact and materiality.
  • Determine if the investigation warrants internal or external review. Is the problem systemic or one bad actor?
  • Assemble the team for competence, independence and the legal protection of privilege. Avoid conflicts of interest.

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