Priego Brito & Guzmán Juárez Attorneys at Law

Due Diligence!

Team of professionals collaborating in a modern corporate environment, which visually represents the importance of due diligence and risk management in business.

For the second time this week we greet each other, the subject that is exposed is about the internal regulations of the companies, for those who are not familiar with the words “due diligence”, you may wonder what is that? In answer to your question...

“Due diligence is an ongoing process by which companies can identify, assess, mitigate, prevent and report how they address the actual and potential negative impacts of their activities, including their supply chains and other business relationships” ; put in Christian words it is the legal and material formality that every company, source of labor and/or employer must or is obliged to perform for the safeguarding of its operators and its own interests.

The vast majority of corporations even have areas and departments, solely and exclusively for such activity, in our country and in our beloved state, it is not an internal activity to which much consideration is taken, however, it is of vital importance to have it, and this mitigates labor risks with which you can in any prejudicial and judicial proceedings, check the historical reality of what happened in the or in the working relationship, the above should be considered as an act of prevention in favor and without violating any right of fellow workers, On the contrary, it helps and prevents internal and external situations for the better functioning of the work sources, since it can be used to follow up on the requests of the workers, or the acts between them, in order to achieve a good balance between the parties, this internal norm can generate certain discontent, to the business sectors, that do not handle or even do not have documentary order (physical and/or digital), and this can cause possible damages auditable for any authority, judicial and administrative reason for which, companies hands to work in this regulation since always what in preventive matter is carried out is in benefit; In addition to having and contemplating an internal corporate order to define processes to manage risks and avoid penalties, fines and requirements.

The above comments are always suggested to the best practices and international preventive standards, which of course means labor progress and thus helps to mitigate risks in the immediate or medium term.

So much for this week's comments, we'll see you next week...

MD. Alberto Iduarte Aguilar - Director of the Labor Area

Article written by:

MD. Alberto Iduarte Aguilar
Director of the labor area

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