In assessing the level of risk the anti-corruption analysis was banded into six categories, specifically:
This significant piece of analysis and subsequent publication on which companies have been proactive in developing and improving their anti-corruption initiatives highlight a major point. A significant number of companies recognise the importance of anti-corruption to their reputation and business bottom line.
Although a significant piece of work by all, the findings are clear and now a simple method of assessing assessing the defence sector for business bribery risk and should be a message to all sectors of how they should look at risk mitigation.
A NEW VENDOR ANTI-FRAUD APPROACH
When we appraise this simple method of assessing corruption risk, both public sector and private sector need to assess its implementation as part of a supplier on boarding process.
If we are taking steps to check for conflicts of interest, a vendor’s ability to adequately complete the contract including verifying previous performance, that they are a low financial risk, that they are compliant with organisation policies such as health and safety or action towards the sustainable development goals including modern day slavery and child labour, why wouldn’t we make the same assessment for their proactive stance on anti-fraud and anti-corruption.
If a vendor can’t adequately evidence that they can protect public or private sector revenues particularly in high value projects, why would we wish to approve them as a supplier. It shouldn’t just be the responsibility of the relevant public or private sector organisation to mitigate fraud and corruption risk. Should a vendor be able to: