As the outcry on bribery and corruption continues to tighten its grip around rogue players in the private and public business sectors, organisations ramp up their efforts to develop effective frameworks to prevent, detect and report corruption.
By fortifying their anti-bribery management systems, organisations are protecting themselves, as sound frameworks can play a pivotal role
in establishing “adequate procedures” as a compliance defense in the event of a bribery accusation.
“Adequate procedures” is a term made popular through the 2010 UK Bribery Act, which poses the potential of a company avoiding liability for failing to prevent bribery if that organization can demonstrate established procedures that deter individuals from partaking in questionable conduct.
A key challenge is that “adequate procedures” has different meanings, depending on the country or jurisdiction. Most enforcement agencies offer little guidance that pinpoints what “adequate procedures” means when considered as a defense in a legal proceeding.
Consider two international legislative provisions that offer “adequate procedures” as a legal defense along with the most recent National Anti-Corruption Plan of the Malaysian Government, and discover how a newly adopted international standard can offer organizations guidelines in developing a globally accepted anti-bribery management system that support most “adequate procedures” defenses.
Addressing the global outcry against corrupt business practicesPDF, Size 3.03 mb
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