Posts Tagged Bribery Act compliance
The newly enhanced Dinamiks ensures businesses and organisations comply with The Bribery Act 2010, which came into effect this year
December 9th 2011, Chichester. Dinamiks Ltd has announced that its newly enhanced cloud-based compliance and employee performance management tool, Dinamiks, is capable of handling all Bribery Act 2010 compliance requirements.
The act came into effect on July 1st 2011 and amends and reforms UK criminal law while providing a legal framework from which to combat bribery, or attempted bribery, in the UK and internationally.
Dinamiks allows a business to ensure that all staff and management – including the board and, optionally, suppliers and external partners – are aware of the requirements of the act, provided the business inputs basic user information.
The act covers business kickbacks, corrupt commissions and other forms of illicit business payments that are used secure business or government contracts. The act also prohibits payments made to obtain a business advantage, such as expediting goods through customs, attempting to receive a more favourable tax treatment and influencing legislation.
“We have deepened the compliance capabilities of Dinamiks so that it can be used in complete confidence for Bribery Act 2010 compliance,” says Shirley Barnes, Client Relationship Director, Dinamiks Ltd.
“Specifically, Dinamiks can be used to implement compliance awareness objectives and development processes – and create proper records and an audit trail.”
Under the new offence of failure to prevent bribery, businesses are criminally responsible for bribes on their behalf by “Associated Persons” whether they know about them or not. There is a defence, that the business has in place “Adequate Policies” to prevent bribery.
What can a business do? It must do something, because all businesses operating in the UK are covered by the act.
The law can be summarised into four key crimes (i) bribing (ii) receiving a bribe (iii) bribing a foreign public official (iv) failing to prevent bribery.
Barnes says that compliance awareness objectives and development processes form one of the planks of an “Adequate Policies” approach that fits all businesses:
*Drive the initiative from the top
*Conduct risk assessment for your business
*Develop a plan to close gaps
*Review existing related polices and create new ones
*Include agents and other service providers in the awareness
*Implement compliance awareness objectives and development processes
*Seek external support
“It is critical for businesses, government departments and other types of organisation to maintain proper books and records and ensure total transparency of payments made, corporate hospitality given and to whom,” says Barnes, “and in addition that on a predetermined calendar cycle, all employees read and understand all the policies associated with good practices, to prevent bribery.”
Dinamiks at a glance
Available 24/7 via secure web access, Dinamiks reduces costs and inefficiencies, develops and motivates staff, aligns employees with business goals, helps deliver up to the minute appraisals, improves HR processes, shows where training or coaching is required – and helps with compliance and employment law across sectors. More at dinamiks.com
Note to the press. For further information please contact:
Shirley Barnes, Client Relationship Director, Dinamiks Ltd
Tel (+44) (0)1243 538835 email@example.com
Or Paul Whitehead, Western Associates PR, (+44) (0)1403 711177 firstname.lastname@example.org