Fikret Sebilcioğlu Addressed at the Third-Party Integrity and Compliance Risks Conference-18 October 2017

Mr. Fikret Sebilcioğlu, the Managing Partner of Cerebra CPAs & Advisors, presented on third party ethics and compliance risks within the scope of bribery, corruption and fraud at the event titled “Third Party Integrity and Compliance Risks of International Companies and Their Management Conference”. The event was jointly organised by International Investors Associations (YASED) and Ethics and Reputation Society (TEID) on 18 October 2017 at Wyndham Grand Istanbul Levent.

After the presentation, Mr. Fikret Sebilcioğlu and Mr. Altuğ Özgün moderated a panel titled “A chain is only as strong as its weakest link”. The speakers were Ms. Canan Özsoy (General Electric Chair of Board of Directors and General Manager), Mr. Emin Fadıllıoğlu (Vice President of GSK Turkey Chairman and General Manager), Mr. Ahmet Levent Yüksel (General Manager of Pepsico) and Mr. Tunç Başeğmez (General Manager of Oyak Renault).

Fikret talked about the followings during his presentation:

- Importance of third parties for global companies
- Third party universe
- 2016 Corruption Perception Index issued by Transparency International and 2016 ACFE Global Fraud Report and ranking of Turkey in these studies
- Third party risks
- Common third party related fraudulent transactions
- Sources of ethics and compliance risks
- Cash bribery cycle

The speakers talked about how they manage third party risks at their global organization and Turkish subsidiary. In addition, the Turkey’s ranking in the Corruption Perception Index and its negative impact over the investment environment were also discussed at the panel.