The OECD has launched new guidance designed to assist countries and businesses in combating the bribery of foreign public officials.
Launched on International Anti-Corruption Day, the 2021 Recommendation for Further Combating Bribery of Foreign Public Officials in International Business Transactions includes the revised Annex II Good Practice Guidance on Internal Controls, Ethics and Compliance which calls on companies to ensure their anti-bribery compliance measures cover:
- gifts, hospitality, entertainment and other expenses
- travel, including customer travel
- political contributions
- charitable donations and sponsorships
- facilitation payments
- solicitation and extortion
- conflicts of interest
- hiring processes
- risks associated with the use of intermediaries, especially those interacting with foreign public officials, and
- where relevant, processes to respond to public calls for tender.
In launching the 2021 Recommendation, OECD Secretary-General Mathias Cormann said the new guidance will ensure companies on the front line are better shielded from bribe solicitation.
The revised guidance is designed to be flexible and intended to be adapted by companies according to their individual circumstances.
Access the revised Good Practice Guidance on Internal Controls, Ethics and Compliance here.
Access further resources on policies and procedures designed to prevent, detect and address bribery and corruption.