Bribery Act to come into force in April 2011 - time to take action

In light of the changes proposed in the Act, organisations should:

• make a clear statement to all parts of their operation (including all associated third parties) setting out what amounts to bribery and that it is prohibited in any form
• audit and update any compliance processes aimed at preventing bribery to ensure they are as robust as possible. If a compliance programme does not exist, seriously consider implementing one
• consider implementing a statement of values/a code of conduct with detailed policies and procedures on, for example, gifts, hospitality and facilitation payments (for example, banning staff from making facilitation payments)
• ensure that all steps taken to deal with bribery are documented in written format in the event that they need to be disclosed in the future
• promote a culture of compliance throughout the organisation (which should be set from the top) by having regular training sessions for staff to detect and report any improper practices
• implement more strenuous compliance measures if transactions involve countries with known bribery problems
• set up appropriate internal controls to prevent bribery and to monitor and oversee the processing of payments and issues relating to bribery
• adopt a policy which encourages employees to report circumstances relating to bribery which may give cause for concern
• ensure that compliance issues relating to bribery are regularly discussed by having it as an agenda item at board meetings. Any action points agreed upon should be given a timeline for compliance and it should be clearly communicated who is to be responsible for any action agreed. Above all, ensure the action points are completed
• undertake a complete review of existing "associated" third parties and any potential "associated" third parties to asses their suitability. Regular and detailed audits of third parties should be conducted at appropriate intervals
• have in place a contingency plan to deal with an allegation of bribery or corruption made within the company or in public to reduce any potential damage to reputation.