Answer yes if your organisation conducts supplier assurance to ensure your suppliers have the correct anti-bribery policies and procedures in place. Please check our knowledgebase to review this control's applicability to your organisation.
It is illegal to offer, promise, give, request, agree, receive or accept bribes - an anti-bribery policy can help protect your business. All companies should have one.
It is a legal requirement that your company implements an appropriate level of controls to reduce the risk of bribery and corruption depending on your organisations specific risk.
Many organisations who consider bribery as a high risk (for example, financial institutions) will implement assurance over their suppliers to check that they have a suitable level of anti-bribery and corruption controls in place.
In order to protect your clients reputations it is important that your organisation ensures all of its suppliers comply with all applicable anti-bribery and corruption laws and regulations. This is typically done through a combination of legal clauses within your supplier's contract and by conducting an assurance process against your suppliers.
Check your supplier contracts to ensure that they contain requirements for your own suppliers to comply with anti-bribery and corruption laws and regulations.
Run an assurance process to ask your suppliers if they comply with anti-bribery and corruption laws and regulations. Risk Ledger can help set this up! Contact us on support@riskledger.com.
If you would like to contribute to this article or provide feedback, please email knowledge@riskledger.com. Contributors will be recognised on our contributors page.