Anti Corruption Compliance Guide

April 8, 2015 | By More

In many countries fighting corruption seems to be an impossible battle, especially for mid-sized companies with limited resources. While there is a broad global consensus that corruption suppresses competition and innovation, thus hampering entrepreneurship and economic growth opportunities, countering it presents a challenging task due to resistance to reform in corruption-tainted business environments. In many cases anti-corruption rules and regulations may be weak or unevenly enforced, government- led steps to fight corruption remain insufficient or ineffective, and bribes are a widely accepted part of doing business.

complianceYet, businesses committed to anti-corruption are not helpless. They can lead by example by improving their own safeguards against corruption and act together to create a movement for integrity that makes clean business conduct the norm, not the exception. For three decades, the Center for International Private Enterprise (CIPE), an affiliate of the U.S. Chamber of Commerce, has worked with such businesses through its partner chambers of commerce and business associations around the world.

In Thailand for example, partnering with the Thai Institute of Directors (IOD), CIPE has helped to train hundreds of businesses on best practices in anti-corruption compliance and to establish a coalition of companies committed to integrity. Members of the coalition – which now represents roughly 20 percent of the country’s economy – sign a declaration that lays out tangible and specific steps a company must take to proactively reduce corruption-related risks in its operations. These commitments are subsequently verified by an annual outside audit, which, when passed, leads to certification. As a result of taking the initiative to comply with anti-corruption standards, coalition members have begun to see direct benefits to their business operations by becoming more trustworthy and attractive business partners, especially to multi-national corporations.

For more details, download the English and Urdu version of the Anti-corruption Compliance Guide



Category: SME Development

Comments are closed.