Guidance published by the UK Ministry of Justice identifies that top-level involvement in bribery prevention is likely to include: "General oversight of breaches of procedures and the provision of feedback to the board or equivalent, where appropriate, on levels of compliance".
A firm's defence to a criminal prosecution is founded on its ability to prove that despite a particular instance of bribery, it nevertheless has and maintains adequate procedures to prevent persons associated with it from bribing.
An effective anti-bribery framework includes, senior management:
Ability to demonstrate effective implementation of risk-sensitive policy and procedure (e.g. via periodic compliance testing and reports of findings)
Ownership and accountability (either directly or via appropriate delegation) for implementing and maintaining effective anti bribery and corruption programmes
Access to timely management information on new/emerging bribery risk, in the firm's operating environment
Senior management should ensure clarity of accountability and responsibility, for:
The role of Compliance and Internal Audit functions for assurance-testing and reporting on, business-as-usual compliance with applicable policy and procedure
Completing adequate due diligence prior to entering into new supplier, vendor or agent/intermediary relationships
Ensuring pre-contract due-diligence is considered in acquisitions, joint-ventures or other arrangements, where a counterparty could place a firm at risk of inheriting a concealed liability or legacy bribery/corruption risk
The oversight of controls around payments for higher-risk expense types (e.g. visas, customs, taxes, government certificates/approvals, licences, bonuses, commissions, gifts, entertainment, travel, donations, marketing, etc.)
Managing bribery/corruption risk in the firm's (or an associated person's) interaction with public officials (e.g. risk of facilitation payments or other incentive being offered to influence licensing, regulation, customs requirements, etc.)
How we can help you
FCRM conducts UK and international reviews of client anti-bribery arrangements. On international assignments (where practicable) we use experienced personnel with knowledge of local language, anti-bribery requirements, culture and business practice.
We review policy and procedure, and deliver robust compliance testing of the application of anti-bribery policy and procedure. Reports include fact-based findings, objective commentary on internal systems and where required, practical recommendations to improve/enhance controls.