The market for the firm’s services remains high and we continue to see growth in each of our product segments. We also see continued growth in markets around the world as countries start to push their anti-corruption and other legislation into the top tier of companies and enforce the legislation by conducting investigations and enquiries.
In late 2018 we closed on an acquisition of ETHIC Intelligence® SAS, a French-based certification company focused on the certification and audit of the ISO 37001 and 19600 standards. The business is well known in the industry for being a leader in this space and a pioneer of compliance certifications, and is currently undergoing accreditation by several country-based ISO organisations to enable it to certify companies as an accredited body.
ETHIC Intelligence® is a global business that has operated around the world through its own team and a team of partners and independent auditors. It will continue to operate from its headquarters in Paris, and the pre-acquisition team remain in place and support the business going forward. The ETHIC Intelligence®’s founder, Philippe Montigny is a key part of our team, supporting our Technical Committee and ensuring that we maintain the very high standards that he set.
Post-acquisition we have been busy integrating the firm to the extent that we need to in order to support ETHIC Intelligence®’s marketing, sales and delivery processes. The Red Flag Group® is a strategic partner and global sales partner of ETHIC Intelligence®, but the business is otherwise is a standalone and independent company. Where needed, The Red Flag Group® provides additional support in the form of extra trained and certified auditors.
Since the acquisition, ETHIC Intelligence® has been inundated with requests around certification and has undertaken several projects. We have made it easier for companies to start the certification process by supporting them with pre-certification and readiness products to ensure that every client is prepared for the audit and certification process.
We see a lot of interest from companies in gaining a certification to prove to their business, customers and stakeholders that they have an externally-tested and certified anti-bribery management system and are consequently a safe option on which stakeholders can rely. We are confident that in 2020 we will expand our services significantly and grow our certification business as the industry gets more comfortable with independent audits and the resultant certification and ISO standards mature to address other risk areas.