As issues of compliance and ethics become a focal point of businesses and policy development, business leaders from around the world are focused solutions that help mitigate the risks associated with global business.

Here are 12 of their top compliance concerns.

1. Code of Conduct

It makes sense that a company’s code of conduct would be at the top of the list of compliance concerns. This document determines the rules you establish to govern your company by and sets both the tone and the top and the tone of your corporate culture. A lot of time and energy goes into creating a code of conduct that addresses the needs of both the company and its employees.

2. Mutual Respect

Respect for your workplace and others continues to be a growing concern, as human rights violations and other similar types of issues seem to make headline news on a daily basis. Mutual respect must be addressed in the code of conduct for every organization and should also become an anchor to your company’s corporate culture.

In order to keep a better eye on mutual respect in the workplace, many companies have also chosen to establish internal reporting systems, encouraging employees to report any instances of observed misconduct. Reporting systems make it easier to identify misconduct in its earlier stages and begin prompt investigations if required. Provide a safe, happy and supportive workplace that your employees are proud to work for.

3. Competition Law- US Anti-Trust

These types of laws govern business actions both in a national and international scope. Competition laws exist to protect industries from domination by a single organization, as well as addressing the issue of unfair business practices. In order for an organization to maintain their reputation, compliance to these laws is extremely important.

Companies must keep in mind the impact that their decisions have to their consumers and the public in order for fair business to exist. The public looks for disclosure from companies, as they want to know about the processes used in the creation of the products they consume, as well as the environment in which the production took place.

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4. Anti-Bribery- US Foreign Corrupt Practices Act (FCPA)

Recently, there have been numerous developments surrounding the level of accountability and types of reprimands handed out to individuals or companies that have violated anti-bribery policies or the FCPA. Many countries have made it a priority to adopt various forms of anti-bribery laws, as well as becoming part of the OECD Anti-Bribery Convention, to criminalize the act of bribing foreign public officials involved in international business deals.

Many well known companies have landed themselves in high profile lawsuits for committing acts of bribery. Bribery contributes to the inability for economic development in emerging nations, as well as the creation of unfair competition within the international business landscape. Companies must develop, communicate and train employees on their anti-bribery policies, informing them of the consequences bribery has on both the company they work for and the nation receiving the bribe.

Compliance concerns related to bribery remain an area of concern, as companies continue to increase their global presence, therefore, facing greater risks, including the risk of bribery.

5. Conflicts of Interest and Gifts

Conflicts of interest can be difficult to avoid during certain situations- reducing the risk of any perceived conflict of interest has become the goal of many companies to protect their reputation.  If a company or an individual tries to influence the outcome of an event or business transaction, the conflict of interest now has legal implications.  Many of these issues relate to the ethics of a company.

Today, companies are placed under great pressure to gain recognition for ethical business practices, as well as transparency and disclosure of company policies and information related to subjects such as internal policies regarding conflicts of interest and gift giving/ accepting.

Establish a corporate code of ethics that outlines examples and explanations of what conflicts of interest are and the impact they can have on the company, measures taken to remove these types of conflicts, how to avoid conflict of interest situations, what is considered a gift, as well as any other actions that the company has taken and tat employees can take to further avoid these types of situations.

6. Financial Integrity

A major emphasis has been placed on accounting accuracy and stricter financial reporting guidelines, as the number of companies committing acts of financial fraud continue to climb.  Many companies have started using internal reporting systems, where employees or individuals outside of the company can report suspected or observed financial fraud.

Reporting systems allow for earlier detection of fraudulent schemes, putting an end to them as soon as possible. Internal audits have also been used to help catch financial fraud early on to avoid financial collapse or major lawsuits.

In order to maintain financial integrity, it's important that companies put a series of checks and balances in place to oversee accounting practices and reduce the ability for financial integrity to be compromised. Legal frameworks, including Sarbanes-Oxley, have also outlined a number of steps companies must take in order to comply with the regulations of SOX to help ensure financial integrity.

7. Sexual Harassment

Sexual harassment is a violation of anyone's basic human rights, and in many cases, is also illegal. The study states that the concerns surrounding sexual harassment have risen in the US because many states have created laws that make it mandatory for supervisors and managers to undergo specific amounts of training to help identify, prevent and properly handle claims of sexual harassment in the workplace.

Managers may also want to integrate this rule into their own companies to ensure that all employees receive the training necessary to reduce workplace sexual harassment. In order to maintain an environment and culture of mutual respect and support, sexual harassment, and retaliation against those making allegations of sexual harassment, needs to be eliminated.

Companies must encourage employees to report instances of sexual harassment through internal and anonymous reporting systems. Executives and managers at other levels must observe for any signs of retaliation that an employee could face for reporting sexual harassment and report the retaliation to the appropriate department.

8. Proper Use of Computers

Each company has a different opinion regarding the use of computer in the workplace. Whether employees use computers to waste time at work or for committing illegal acts, each company must determine what the limitations of employee computer usage will be within the workplace. The use of company laptops that exit the workplace is also an important matter as they are company property but many employees wind up using them for personal use.

The use of computers has become one of the fastest-growing compliance concern in recent years, as many employees rely heavily on computers and other technological devices that use Internet connections to conduct basic daily tasks.

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9. Global Competition Law

Similar to the development of the US Anti-trust Laws, other countries have developed their own laws for handling global competition. Competition laws protect industries from being dominated by one organization. They also address unfair business practices. Each country has its own laws regarding global competition.

10. Insider Trading

Insider trading has made the list because of the increased attention and enforcement of laws and policies prohibiting the act of insider trading. Issues surrounding insider trading interfere with SEC regulations, including the Fair Disclosure Act. Avoiding insider trading helps maintain investor confidence for trading in the market and also helps maintain fairness.

To avoid insider trading a simple solution is required: share company information with the public as soon as it's available and document any trades made by those considered "insiders". Different countries have different laws and enforcement levels regarding the consequences of insider trading.

11. Records Management

Companies are required to keep certain pieces of information for specified periods of time. Employee information, internal policies and procedures, client files, as well as numerous other important documents must be accounted for and accessible at any point in time. This is particularly important if a company must investigate allegations.

The company must preserve case evidence and make reference to other documents that already exist within the company in order to fulfill their obligations during the investigative process. Records management and the protection of information can make or break an investigation.

12. Certification and Disclosure

This means that employers are collection confirmations from employees that they have received, read and understand company policies that have been distributed. Employees are asked for these statements because it tends to reflect on an employee’s commitment to governing themselves by the policies and taking them more seriously.

In many cases, requiring these confirmations means that employees will be more apt to actually read and apply the policies to their daily work because they know that they are now being held accountable for their actions in the workplace. This form of accountability also increases the likelihood of internal disclosure when an employee observes misconduct or actions that go against company policies.

Compliance concerns are universal, no matter what industry you're in or the size of your company. Keep these in mind when planning ahead for changes to your E&C program.