News 11th Nov 2019

How does your business keep track of its corruption risks?

Sophie Ogilvy

Director, Business Integrity Programme

Sophie is Director of Transparency International UK's Business Integrity Programme which works with companies to raise anti-corruption and business integrity standards in the private sector.

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A company operates within a dynamic environment. It can face changes to regulations and laws, societal changes, and new emerging risks due to shifting political landscapes, or ever-advancing new technology which may disrupt its operations.  The company’s own risk profile may also change; it may enter into new markets, or provide new products and services. It may make acquisitions or mergers, or acquire new employees and business partners whose actions can ultimately impact on the business and its reputation.  At Transparency International we know that it is a challenge for any company to ensure that its risk assessment and monitoring work together to ensure that the anti-bribery programme remains valid for the key risks facing the company.

Transparency International recognises that companies often require and seek out guidance on how to best manage their corruption risks in this ever-changing environment. In response to this need, we ensure that our online guidance for companies and available tools to measure compliance practices continue to evolve.

We are pleased to offer a new feature in our long-established Global Anti-Bribery Guidance portal, our free of charge reference for businesses to understand ‘adequate procedures’ of the UK Bribery Act. With support from FTI Consulting and DLA Piper, the recently-launched updated portal now provides legal summaries of anti-bribery legislation within countries, explained in easy-to-follow language.  This free resource will help companies working and exporting internationally to ensure that they are acting in accordance with all relevant anti-bribery laws in the jurisdictions in which the company conducts its business.

Transparency International wishes to support businesses to lead the way and we welcome engagement with the private sector.  Ultimately we favour a collective approach which we know works, and which we know can lead to far-reaching impacts in tackling the challenge posed by corruption.

Other ways in which you can engage with Transparency International and ensure you are managing the evolving corruption risks in your business include our thriving Business Integrity Forum and Corporate Anti-Corruption Benchmark.

To arrange a meeting with one of the team to see how you could get involved, please contact us at businessintegrity@transparency.org.uk