Corporate Compliance

Teaching results

Students will possess following abilities:
- Students will become familiar with corporate compliance (together with risk management) as part of corporate governance.
- The issue of corporate compliance will be presented in the context of a new institutional economic theory and, above all, in the context of transaction costs theory (the requirement to be in line with the legal and ethical environment of companies under this theoretical framework is based on an economic reality in which we can encounter imperfect information, opportunism, and specific assets).
- Students will understand the need to implement corporate compliance in international trade and business, which can be called again under a new institutional economic theory terminology such as governance structures or tools to secure specific transactions (as well as corporate governance and risk management).
Students will obtain following skills:
- Awareness of the existence and need for mitigating operational risk, arising primarily from a compromised reputation and from impending sanctions in the event of a breach of the organization’s legislation.
- Orientation in relevant legislation, in the requirements of the Slovak Act on Protection against Legalization of Proceeds of Crime and Protection against Terrorist Financing and the Slovak Act on the Implementation of International Sanctions.
- Adopting the basic legislative as well as ethical requirement of corporate compliance, namely the knowledge of your business partner, including the practical implementation of this requirement by obtaining information from relevant sources and databases.
Students will gain following competences:
- In accordance with the graduate profile, readiness to be responsible for their activities and decisions, considering their social consequences.
- Prudence in business, including adequate transparency towards the external environment.
- Ability to analyze and select a trading partner in international trade.
- Ability to use information databases on natural and legal persons.
- Competence in reducing operational risk arising from legislative and ethical requirements.