Legal and compliance departments, along with management, usually have hands-on roles to play during an internal anti-corruption investigation, but the audit committee, which often oversees the investigation, can have a more indeterminate one.  How involved should the audit committee be in formulating and implementing an effective investigation strategy?  The Anti-Corruption Report is publishing a four-part article series examining audit committee responsibilities and best practices before, during and after internal investigations.  This, the third article in the series, discusses what the company and audit committee should do when initiating an investigation; when the company should retain outside counsel and other experts; how the company should gather information relevant to the investigation; and whether and how the company should document the investigation.  The first article in the series, “Five Steps to Take Before the Investigation Begins,” detailed the responsibilities of the audit committee, the risks and liabilities the audit committee faces and steps the audit committee should take before the need to investigate arises.  The second article, “Determining When and How to Proceed,” discussed vetting complaints for the audit committee, determining when an investigation is needed and who should lead the investigation.  The fourth article will discuss the audit committee’s responsibilities concerning self-reporting, remediation and SEC disclosures.  See also “How to Conduct an Anti-Corruption Investigation: Ten Factors to Consider at the Outset (Part One of Two)” (Dec. 18, 2013); “Developing and Implementing the Investigation Plan (Part Two of Two)” (Jan. 8, 2014).