Whistleblowing - How to turn compliance with upcoming laws into a business advantage
In October 2019, the European Parliament passed the "Directive on the protection of persons who report breaches of Union law" which will have to be transposed into Luxemburgish law at the latest in December 2021. Starting then, all entities in the public and private sector with 50 or more workers (or more than 10.000 inhabitants for municipalities) will have to implement a whistleblowing system.
Even without this legal requirement, the introduction of a whistleblowing system can have numerous advantages. While many might associate it with defamation or black mouthing, it can be an efficient instrument to detect fraud and improve processes if properly set up.
According to a report of the Association of Certified Fraud Examiners, a "tip" was the most common source to detect cases of fraud within a company. A secure internal channel together with the assurance that reporting persons are protected from retaliation can give entities the chance to detect process weaknesses and wrongdoings and prevent financial and reputational damage.
However, a successful whistleblowing system is not just the introduction of a hotline or mailbox for submitting reports.
PwC's Academy offers a training together with the Forensics Team highlighting the minimum standards that will have to be implemented according to the EU Directive. They will also explain necessary accompanying processes to ensure a proper use of the whistleblowing system. The training will provide the participants with practical tips for the set up and operation of the whistleblowing system and for handling and investigating reports.
Being part of the forensics team, your trainers will have first-hand experience with actual investigations and whistleblowing cases.
- Overview of the new EU Directive
- Internal and external reporting channels
- Already existing whistleblowing systems in other countries
- Discussion of the different stages of a whistleblowing case
- Criteria for the selection of a tool
- Definition of processes and elaboration of procedures
- Internal investigations and cooperation with authorities
- Do’s and Don’ts for the successful implementation of a whistleblowing system
- Real life examples
At the end of the course, participants will be able to:
- Understand the different requirements set out by the EU Directive
- Explain the organisation of a standard whistleblowing case
- Discuss the need for whistleblower protection
- Identify the starting points within his/her organisation for the implementation of a whistleblowing system
A qui s'adresse la formation?
- Representatives of all sectors (financial, private and public)
- Members of the board or management, incl. mayors and representatives from municipalities
- Internal auditors, Compliance Officers or Risk Managers
- Legal and HR department