The Bribery Act is now in force since July 01, 2011. There is a vast amount of material of value on this subject which we have collated some links for your interest.
The key messages are:-
1. You are at risk if you are in business
2. You are at a higher risk if you trade internationally
3. There are four new criminal offences and the penalties are onerous on both directors and the organisation
4. Training is required of staff and associated persons as all steps in the chain are at risk
5. Act provides for defence – only where “adequate procedures” can be demonstrated
There are a number of training courses, online and classroom available.
What is missing is how to implement this within your business at a level that is more than a policy document that is at risk of not being read, not internalised, forgotten or not remembered. The value is in setting up the correct procedures and ensuring that the steps and actions are appropriate for the different business activities and business development teams in local areas / national regions / international countries.
This requires the development of a framework, implementing the steps into the day job of the individuals such the it can be evidenced the processes that were followed.
This ensures that you have proof that the correct procedures were followed and evidenced every time. This will provide defence when a problem arises.
This is where Genius Methods can help. Contact Sharon Constancon on email@example.com to discuss your needs and therefore possible solutions.
Links to interesting articles and publications
Shoosmith – 25 August 2011 : Bribery Act: Compliance for developers. This is an excellent article on the bribery risks faced by businesses.
The Bribery Act 2010 – Guidance (relating to Section 9)
Pinsent Masons – host exclusive interview with the SFO on Bribery Act Guidance
Wragge & Co – a number of videos on the Bribery Act
Article in the Informed Executive September 2011 Edition – Link will be provided shortly