Bribery is becoming an increasingly high area for concern within operational risk areas for businesses both in the UK and around the world. Organisations are finding themselves with little or no defence against prosecution resulting in not only financial losses but lengthy prison sentences in some cases.
With the enforcement of the UK Anti-bribery act, organisations from numerous industry sectors are looking at managing compliance to this regulation more efficiently in order to minimise their risk of prosecution.
The anti-bribery act 2011 is based on the following 6 principles:
- Proportionality - The action taken should be proportionate to the risk and the size of the organisation.
- Top level commitment - Those in senior positions are best placed to ensure the organisation conducts business without bribery.
- Risk Assessment - Many organisations will have little or no risk of bribery but a risk assessment will show the nature or extent of exposure to bribery.
- Due Diligence - This is about having a risk-based approach to business relationships - with those you deal with or who provide services for you.
- Communication - Employers will need to communicate their policies and procedures to staff and others who perform services, additional training may help raise awareness, and this would be proportionate to the size and type of organisation.
- Monitoring and Review - Risks to your organisation may change, over time you may want to carry out regular reviews and re-assessments.
- Developed to address the principles of the Anti-Bribery act
- Demonstrates that an organisation has adequate procedures in place
- Demonstrates to key stakeholders and potential clients that the organisation is committed to anti-bribery
- Can be a requirement in tenders or to provide services to other businesses
- Internationally recognised standard which acts as an advantage when working with clients overseas
- Annual reviews which ensure continued compliance and highlight any areas of concern
- Reduces the risk of breaches occurring by ensuring top level commitment showing that the organisation doesn’t tolerate bribery
- Can be used as a standalone system or be easily integrated into existing systems such as ISO 9001:2015 or ISO 14001:2015
A commercial organisation will be liable for prosecution if a person associated with that organisation bribes another intending to obtain or retain business or gain an advantage for that organisation.
We can also offer a gap analysis as part of a pre-certification audit check, to allow your team to develop an action plan to work towards certification.
Contact us for more information