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Read Part I here
Empowering through knowledge
One of the most identified risk areas for organisations regarding corruption is third-parties acting on behalf of their organisation. In many cases, a third-party is an SME supplier either working independently on behalf of the larger, more established, organisation or as part of a joint venture agreement.
It is imperative that due diligence is done on all third-party representatives as the UK Anti-Bribery Act extends to organisations that do not have the necessary processes in place to prevent corruption.
Therefore, for a larger, more established, organisation to protect itself, third-party representatives must be educated on the expectations the larger organisation has, with clear guidelines on how business should be conducted. For example, a joint venture agreement must be a legally binding contract with expectations and areas of accountability clearly stated. Read More...