Complying with Global Anti-Corruption Legislation

This report from Kroll explains the severe implications of corruption and bribery accusations for a company. The report aims to help Asian companies better understand their liabilities and protect themselves against related violations.

 

The cost of corruption is high. A company found violating of the international or local bribery acts can face severe penalties, but that is just the tip of the iceberg. Companies are also required to return profit they made from their corrupt practices, risk damaged reputation and losing their existing clients.
 
Four steps to develop a robust anti-corruption framework:
  • Risk assessment

Properly assess the risk you face under your industry business model and structure

  • Assessing your current controls 

Check how effective existing anti-corruptions, controls and procedures are

  • Develop a framework that works

Provide a clearly articulated code of conduct and compliance fully supported by senior management

  • Ongoing risk assessment and monitoring protocols

Ensure ongoing monitoring of all business activities and the routine updating of all policies and controls 

 

 

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