The international organisation, Transparency International (TI), defines corruption simply as the abuse of entrusted power for private gain. The most common example is bribery. TI goes on to make two further distinctions between “according to rule” corruption and “against the rule” corruption. Facilitation payments, where a bribe is paid to receive preferential treatment for something that the bribe receiver is required to do by law, such as connect a telephone, constitute the former. The latter, on the other hand, is a bribe paid to obtain services the bribe receiver is prohibited from providing such as favouritism in awarding contracts of any sort.
Why is it important to you?
Corruption has far reaching consequences for individuals, businesses, organisations and governments. It is corrosive of organisational culture internally and externally and is extremely damning for reputation. As senior executives in a leading Australian international company said: “If a bribe is paid just once, it is all over. Trust is destroyed and it is impossible to get it back!’ Corruption puts an entity on a downward trajectory towards collapse, the very antithesis of the concept of sustainability.
What do you get?
The Walton Group can help you build business and organisational resilience which enables you to withstand corrupt practices. A strong values-based culture is the best defence and cuts across international legal jurisdictions and cultures to provide strong messages about “the way we do things around here.” The Walton Group can
- develop a comprehensive ethics education programme that suits your needs and circumstances
- develop codes to guide behaviour throughout your organisation and guide you in their implementation
- develop your policy framework
- provide anti- corruption training and training in regulatory requirements within specific jurisdictions on relevant anti-corruption legislation such as the Australian Commonwealth Criminal Code, the U.S. Foreign Corrupt Practices Act and the United Nations and OECD Anti-Bribery conventions
- guide you in investigating and remediating any existing issues or problems
- Through our strategic partner, Red Flag Group, based in Hong Kong, conduct integrity assessments of third parties and due diligence on channel partners before entering into a relationship with them, and at strategic intervals after that.