Category: Due diligence

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Due diligence

GUIDANCE ON DUE DILIGENCE FOR EU BUSINESSES (FORCED LABOUR )

GUIDANCE ON DUE DILIGENCE FOR EU BUSINESSES TO ADDRESS THE RISK OF FORCED LABOUR IN THEIR OPERATIONS AND SUPPLY CHAINS (PDF)

An estimated 25 million people are in forced labour globally.
Out of this number, 16 million are exploited in the private sector, 4.8 million are in forced sexual exploitation and 4 million in forced labour imposed by state authorities. Women and girls are disproportionately
affected by forced labour.

Combatting forced labour is a priority for the EU. In line with the EU Charter of Fundamental Rights, the EU is committed to eliminating all violations of fundamental principles and rights at work, including forced labour, promoting the protection of victims of business-related
abuses, as well as ratification and effective implementation of ILO fundamental conventions.

In accordance with the EU Treaties, the EU promotes respect for human rights, including labour rights, in the world. This includes also a long standing commitment of the EU to “decent work”.

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Due diligence

Due Diligence and Law

Due diligence is a process of verification, investigation, or audit of a potential deal or investment opportunity to confirm all relevant facts and financial information, and to verify anything else that was brought up during an M&A deal or investment process.  
Due diligence is completed before a deal closes to provide the buyer with an assurance of what they’re getting.
Examples of ‘due diligence’ in a sentence:
It spent a marathon two years on due diligence….
I have an open mind and our own due diligence has been reasonably satisfactory….
The company is expected to spend two months on due diligence.

Home assignments:

  1. Read the text and put questions to each paragraph.
  2. Type your questions in the form under the text.
  3. You need to write a one line summary for each color section of the text.
  4. Explain the features of legal due diligence.
  5. Describe the algorithm for conducting legal due diligence.
  6. Watch the video.
  7. Do the test.

What does the due diligence process cover and why is it necessary?
  1. Due diligence has become one of the buzzwords of the 21st century. Due diligence is a process that involves checking the validity of a position, action or status.
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Due diligence

Due Diligence vs Corporate Compliance

<a href="https://www.lexology.com/1191796/author/_Zafar_Anjum/">Zafar Anjum</a>
Zafar Anjum

CRI Group

https://www.lexology.com/1191796/author/_Zafar_Anjum/

Due diligence is a common concept across all businesses and industries and is a vital part in tackling anti-bribery and corruption in the workplace. The Corporate Financial Institute defines due diligence as a process of verification, investigation, or audit of a potential deal or investment opportunity to confirm all relevant facts and financial information and it can be understood that due diligence should ideally be completed as measure of insurance before a deal is closed between a buyer and a supplier or any form of commercial and professional relationship.

Compliance on the other hand means what it would in the consensus of the word; to follow the rules. IONOS further elaborates the meaning of phrase in a business environment as conforming to the laws, regulations, rules and policies is the part of business operations often referred to as “corporate compliance.“

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