Beyound EU- British Exprt Asso
How to manage corruption risk in emerging and developing markets beyond the EU
November 13, 2019
Great audience participation at a British Exporters Association's seminar on "Beyond the EU - managing corruption risk in emerging and developing markets" last Tuesday.
Prefaced by an excellent presentation on the impact of the UK Bribery Act nearly 10 years on by Mark Norris of Sullivan & Worcester LLP (pictured), Lewis B. of the National Crime Agency, Geoffrey de Mowbray of Dints International, Mark and Brook led a discussion on how business can contribute to changing the culture of corruption.
The UK Bribery Act places a serious responsibility on companies to enforce the law, both within their own workforce, and beyond, deep into their global supply chains.
In order to manage risk, companies will need to do more than just include an anti-corruption clause in their contracts. They will need to conduct due diligence, maintain effective audit procedures, and train their employees, distributors, agents and partners to recognise red flags, and report them in the right way.
Finally companies can change business behaviour by directing their investments to countries and companies that have shown their commitment to the highest standards of governance, and by refusing them to those that have not.
