This module familiarizes law students with compliance management. The students shall receive an overview of regulations and management tools with the aim to get a view of effective corporate compliance, its elements, its supervision and control. This does not only include an international set of compliance regulations but also about internal processes, their controls, internal communications and investigations. In addition, the students should also get a glimpse of internal corporate audit, preferably with a visiting teacher from an international audit firm or company. The areas to be covered are: legal framework of compliance and responsibility, corporate governance and compliance management, internal controls over processes, internal support functions such as audit, risk, finance, controlling, internal investigations including parameters and reporting, and compliance communication in terms of reporting, whistleblowing and outside communications.
Upon completion of the module, the students will be able to distill, analyze and compile the conditions, facts and problems that are relevant for compliance management; to identify problems, shortcomings and solutions; and to have a view of essential elements of compliance and internal controls including their potential weaknesses. Law students and young practitioners typically face a specific challenge in the course of their education – they learn to apply law, but they are unaware of how compliance with laws has to be organized in corporate entities. This module helps students to overcome this obstacle, and upon completion they will be able to actively participate in the compliance organization of international companies. A particular emphasis is placed on developing the skills and abilities necessary to detect, investigate and report shortcomings, even in cases where the underlying law is foreign or unknown or where several jurisdictions are involved.