As companies have had to adapt to new models of operation due to the COVID-19 outbreak, many are starting to realize that compliance with their internal regulations and with local law are at a risk for lack of oversight and preparation to respond to the outbreak. In recent years, companies had developed internal controls to ensure proper management and practices in company operations, these internal controls are now being tested for many companies as operations are being performed in uncharted territories.
Unfortunately, corporate misconduct in companies is still an on-going concern and one that is currently at a higher risk due to the uncertainty of guidelines under which many employees are operating or for deliberate actions undertaken as a response to the crisis. Allegations of misconduct on behalf of employees are to be taken seriously as they could entail legal, reputational and economic consequences, therefore, companies should not hesitate to undertake proper investigations to determine the risks to which they are exposed to.
Misconducts would normally be dealt with internal investigations that would require the participation of many company departments such as human resources, legal, and accounting department, among others. The advantage of conducting these investigations on site, was that these investigations could be performed in accordance to the preestablished protocols related to internal investigations and relevant information could be easily accessible. This normal procedure is no longer possible in many countries, including Guatemala, and therefore solutions must be devised to secure that the company obtains the information necessary to determine their risk exposure. A few measures that companies could implement and that are permitted under Guatemalan law are the following:
- Secure electronic data and evidence: In many cases, companies have provided employees with devices and platforms needed to perform their daily tasks. In this regard, companies should use the electronic platforms available to begin preserving electronic data of the company related to operations in question. Taking steps to document every transaction according to established procedures is key to retaining all necessary evidence that could be useful in potential allegations.
- Internal regulations for working from home: It is possible that companies did not have internal regulations set in place for employees working remotely under these circumstances, therefore, companies should begin to standardize regulations on how employees should cooperate with the companies in providing access to all company information upon request. It is preferable that employees abstain from using personal devices for work purposes, however in case they are using personal devices, guidelines should be implemented so that companies may have access to the company information that these devices could hold.
- Communication: Employees of every department in the company should be readily available for conducting interviews via videoconference or other technological means that allow for face to face engagement. Although not ideal, these tools are helpful to conduct interviews that are urgent to the company.
- Third-Party Support: Companies should have trusted allies in the process of assessing their risks and performing investigations. For this purpose, having a list of trusted third parties that could assist in conducting investigations for which the company may not have the necessary capability is crucial for continual compliance.
