From Conflict Minerals to Anti-Corruption Compliance: Managing Risk

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Sure, dealing with supplier responsiveness during a compliance process is one thing, but what if you’re dealing with corruption as well?

Source Intelligence – who previously brought you insight into Overcoming Supplier Resistance: How Educating Suppliers Impacted Responses to Conflict Minerals Regulation in 2013 – now dives into anti-corruption compliance.

anti-corruption complianceIn their new paper, Anti-Corruption Compliance For The Value Chain, authors Kevin McArthur (Senior Development Manager at Source Intelligence) and Leslie Benton (Vice President, Advocacy & Stakeholder Engagement at CREATe.org) connect the dots between the new global regulatory environment surrounding corruption and the processes and policies necessary for companies to integrate into their business – not just into their compliance or legal departments.

On The Changing Legal Landscape

“Many of these new [anti-corruption] laws have expansive jurisdictional provisions extending to conduct occurring outside their country borders and provide that a company will be liable for the acts of business partners working on their behalf, including joint venture partners, suppliers, agents, intermediaries, and other business partners. While this is seen as a positive development by most—leveling the ethical playing field for businesses that must compete for lucrative contracts in a global environment—it also creates a more complex legal landscape.”

For more key excerpts and FREE download of the full paper, click below.

On a Comprehensive Approach to Anti-Corruption

“For an anti-corruption compliance program to succeed, a company needs to account for the multi-dimensional risks presented by its own operations and its relationships with business partners. Internationally accepted frameworks such as the OECD Good Practice Guidance on Internal Controls, Ethics, and Compliance and Transparency International’s Business Principles for Countering Bribery provide guidelines for what a program should cover. These include policies and processes that ensure that compliance is integrated into the business and not simply siloed in the legal or compliance department of a company. Among them are the following:

    • Risk Assessment
    • Policies, Procedures & Records
    • Compliance Team
    • Supply Chain Management
    • Training
    • Monitoring and Measurement
    • Corrective Action and Improvements”

What Are the Benefits of Being Prepared?

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