Anti-Corruption Policy
The scourge of corruption undermines trust and credibility—two of a company's most precious assets. Therefore, an anti bribery and corruption policy proactively manages these risks, reflecting the company's commitment to acting fairly and with integrity in all internal and external business interactions. It defines the meaning of bribery and corruption, prohibited conduct in interactions with clients, vendors, and third parties; criteria for accepting gifts; reporting mechanisms; investigations; and disciplinary actions.
Created by
Naif O. Alawbathani
|
Human Resources Adviser
Written by HR expertsFully customizableSaudi labor law ComplaintShare the calculator with an HR college
What’s included in the anti bribery and corruption Policy?
The meaning of anti bribery and corruption policy is the policy which sets the tone for ethical behaviour. It’s based on Zero tolerance for unethical practices, defining Acceptable gifts and hospitality. and encouraging employees to report suspicious activity, and mentioning what must be done in conflict of Interest cases.
The policy also outlines Disciplinary Action for violations, referencing relevant articles of Saudi Labor Law. Its scope extends to all vendors, agents, consultants, and business partners, who are expected to adhere to this anti-corruption policy.
All employees must be aware of the anti-bribery and corruption policy, as it is essential for deterring misconduct and safeguarding organizational integrity.By establishing clear standards, it ensures that no one can claim ignorance of prohibited conduct.
Anti bribery and Corruption Policy - Table of contents
1. Scope
2. Definition
3. Prohibited Conduct
4. Client & Vendor Interactions
5. Gifts & Hospitality
6. Confidentiality & Conflict of Interest
7. Confidentiality & Conflict of Interest Drag
8. Investigation Procedures
9. Disciplinary Action
10. Training & Awareness
11. Third-Party Compliance
Why do you need an anti-bribery and corruption policy?
Clear commitment to the highest ethical standards in all dealings.
Providing a roadmap for compliance with all applicable anti bribery and corruption laws.
Encouraging and providing guidance for reporting of any suspected violations.
Protecting the company from fines, penalties, and damage to its business reputation.
How do you use the model?
Download the template and review the content.
Download the template and review the content.
Ensure it is clear, inclusive, and concise, and add it to the Code of Conduct.
Ensure compliance by getting the anti bribery and corruption policy reviewed by a legal/HR expert.
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FAQ
How do you write a bribery policy statement?
When writing an anti bribery policy statement, it is crucial to define bribery, address the company's needs for implementing the policy, and include an actionable plan against bribery. Additionally, use active voice whenever possible, ensure the document is easy to understand, and cover all key issues.
What does an anti bribery and anti corruption policy include?
An anti-bribery and corruption policy should encompass five basic components to ensure it is easy to understand and follow:
A clear and consistent title.
The scope of applicability, covering all employees, vendors, and third parties.
Definitions of both bribery and corruption.
References to related Saudi labor laws.
Examples of both acceptable and unacceptable gifts.
How to stop bribery and corruption?
Here are four steps to reduce bribery and corruption risks:
Conduct risk assessments for transactions involving intermediaries and large-scale procurement processes.
Review the ownership structure, financial records, and past compliance history of third parties.
Provide anonymous reporting channels for unethical practices.
Audit activities regularly, such as financial transactions, contract approvals, and employee expense claims.
What is an example of bribery?
Bribery has two forms: active and passive:
Active bribery involves offering, promising, or giving a bribe, such as bribing officials to bypass violation, offering gifts to cover mistakes, or bribing superiors for a pay raise.
Passive bribery occurs when a person requests, receives, or accepts a bribe. Examples include an executive taking a bribe for early tender information, or a bank employee accepting a gift for private data access. Understanding both forms is crucial for recognizing and preventing corruption.
What is an example of corruption?
Corruption may wear many faces. Let’s look at some examples:
Buying inappropriate goods and services.
Concealed invoices.
Incomplete travel and expenses.