Corporate Measures to Prevent and Detect Corruption

 

Thematic Review - 2014

To successfully combat corruption, both the public and private sector must be engaged. One of the key measures which can be undertaken by the private sector is the development and implementation of safeguards and compliance programs to prevent and detect corruption activity. Pillar 2 of the Initiative's Action Plan commits countries that have endorsed the Plan to “promote corporate responsibility and accountability” by, among other things, promoting good corporate governance, requiring transparent company accounts, and prohibiting the falsification of company records for the purpose of concealing corruption. The UN Convention against Corruption (UNCAC) and the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions require states parties to take steps to prevent corruption involving the private sector and enhance relevant accounting and auditing standards .

In practice though, such measures can be difficult to implement. Many of the 41 State Parties who have implemented the OECD Convention have encountered problems in this area. Their experience can aid the Initiative’s members by identifying common pitfalls and providing good practice examples to assist in UNCAC implementation. With this in mind, the Initiative decided to conduct a thematic review on corporate measures to prevent and detect corruption. Drawing on the experience of the OECD Anti-Bribery Convention's monitoring mechanism, the review focuses on each member's* implementation of Article 12 of UNCAC (Private sector) and Article 8 of the OECD Convention (Accounting). The review also touches upon Article 13 of UNCAC (Participation of society) and Recommendation X of the 2009 OECD Anti-Bribery Recommendation (Accounting requirements, external audit, and internal controls, ethics and compliance). Finally, the review seeks to identify trends and challenges that cut across the Asia-Pacific region.


* India was unable to review and comment on its draft report in time for this publication. The report will be added to the publication when finalised.

 

 

 

 

Full Report, 2014 - (PDF)



Previous Thematic Reviews

2010 - Thematic review on the criminalisation of bribery offences under UNCAC

2008 - Thematic review on mutual legal assistance, extradition and recovery of proceeds of corruption

2006 - Thematic review on mechanisms to curb corruption in public procurement

 





 

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