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BFSF FMV for life sciences companies: Contracting with third parties in high corruption countries

October 28, 2020 @ 12:00 pm - 1:00 pm EDT

Free
Baker Tilly CPE Webinars

Participants of the live webinar will be eligible for 1 free CPE credit.

Register Here

Anti-Bribery Anti-Corruption (ABAC) legislations such as the U.S. Foreign Corrupt Practices Act (FCPA) hold companies accountable for the behavior of third parties throughout their extended enterprise. To be compliant within the U.S. isn’t enough; as life sciences products become more specialized and integrated into the global market, ABAC programs need to consider the risks and implications of engaging with third parties outside of the U.S. Specifically, one of the greatest risks to a global ABAC program is contracting with third parties in countries that are high on the Corruption Perceptions Index (CPI). Life sciences companies engaging with vendors in high CPI countries should be performing Fair Market Value (FMV) assessments for Bona-Fide Services Fee (BFSF) arrangements if these vendors are also customers who can influence prescribing behavior.

Join Baker Tilly for an informative discussion regarding what factors life sciences companies should consider when conducting a BFSF FMV assessment in high CPI countries. Our team of Value Architects™ will discuss:

  • Characteristics of the life sciences industry that increase the risk of bribery and corruption
  • Ways in which pharmaceutical companies engage third parties and best practices for third party due diligence
  • Recent enforcement actions and compliance considerations for BFSF FMV
  • Valuation approaches to FMV for BFSF arrangements and impact of COVID-19 on FMV calculations

Who should attend?

  • C-Suite, VPs, senior executives, directors, and risk management, compliance and procurement professionals of clinical development, private equity, and emerging commercial pharmaceutical and life sciences organizations

Presenters

  • Darren Jones, Principal
  • Samantha Sutherland, Senior Manager
Information about CPE eligibility

There are no prerequisites for this event and advance preparation is not required. There is no cost to attend this event.

Level: Overview
CPE credit:
 One (1) hour total credit
Field of study: Management Advisory Services
CPE host: Morgan Tomko

A certificate of completion will be e-mailed to you four to six weeks after the event.

For more information regarding administrative policies such as complaint and refund, please contact our offices at +1 (608) 240 2522.

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Baker Tilly Virchow Krause, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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