Bribery Act Due diligence




 

Bribery Act Due diligence –Preventing bribery

The Bribery Act came into force on 1 July 2011

The new corporate offence of failing to prevent bribery means businesses must adopt adequate procedures to prevent associated persons from engaging in prohibited conduct.

The Ministry of Justice guidance on the Act makes it clear that employees are presumed to be associated with their businesses. Employers are therefore encouraged to incorporate the core principles of bribery prevention in their day-to-day processes.

Demonstrating proper investigative process and duty of care in vetting third-party intermediaries is critical both in upholding the law and securing your business’s financial/reputational bottom line.

Businesses need to identify red flags, including questionable governmental links, criminal and civil litigation history, personal and financial relationships, business resources and contractual irregularities. They need to ensure that their methodology and solution will stand up to regulatory scrutiny and establish critical baseline business intelligence about third-party intermediaries, including sellers, resellers, consultants, import-export agents, legal representatives and joint venture and acquisition targets who might be vulnerable to bribery.

Our advisory and due diligence service offers development assistance to close gaps or make enhancements to your current programme. If implementing a new programme, we can help you design and develop the components from the ground up and build it right first time. We have experienced lawyers, accountants, ethics and compliance officers, executives and consultants that have created and directed compliance programs, including global anti-corruption programs at multinational companies facing a high level of scrutiny.

Our practical experience goes a long way to helping you address effectiveness in a practical, grounded way. We focus on meeting best practices requirements, while integrating with business operations for maximum effectiveness.

We will assess your current implementation and identify opportunities to better leverage existing channels and systems and put in place a system identifying: –

Core principles of bribery prevention

1. Assessing associated parties

2. Discovering evidence

3. Risk assessment

4. Interrogating data

5. Protecting personal data

5. Communication

6. Monitoring and review

Contact a member of our team today to discuss your requirements.