The Red Flag Group, a global business intelligence and technology firm based in Hong Kong with a robust presence in the US, Middle East, and Europe, recently announced that they have acquired ETHIC Intelligence as part of its commitment to existing and prospective clients that are increasingly interested in establishing best practices and achieving excellence in key compliance and risk areas.
ETHIC Intelligence provides anti-corruption certification services to both private and public businesses as well as to not-for-profit organizations, all either within or outside of the OECD area. ETHIC Intelligence has participated in drafting both the ISO 19600 (compliance management) and ISO 37001 (anti-bribery management) standards and is widely considered a benchmark of excellence in delivering anti-corruption certification, assessment, and training services since 2006.
The success of any regulatory or business standard is less about the establishment of universally-accepted policies and practices that can be checked against a list and more about ensuring the adoption of those policies and corresponding behaviors align with the values and goals that an organizations hopes to achieve. When implemented correctly, standards such as ISO 19600 Certifications convey that one is a trustworthy counterparty. In our hyper-connected world, the importance of reputational risk has risen sharply. As a result, Clearsight expects demand for services such as those provided by ETHIC Intelligence and The Red Flag Group to grow and become part of the fabric of every industry over time.
As Clearsight continues to monitor the compliance and risk sectors, we firmly believe there are robust opportunities to be had as companies of all ilk realize the need to hold an industry certification in key compliance and risk areas. Clearsight certainly expects to see a direct correlation between standardized industry certifications and successfully mitigating regulatory and reputational risks.
Kudos to The Red Flag Group and to ETHIC Intelligence on their prescient partnership and for paving the way to developing a gold standard in anti-corruption practices.