Summer Update 2023
GoodCorporation launches anti-bribery and corruption digital assessment tool
Companies are under growing pressure to ensure that adequate procedures to prevent corruption are firmly in place, not just across their own organisation, but in subsidiaries and throughout the supply chain. With many businesses dependent on a complex web of suppliers and third parties, this can be both daunting and challenging.To help businesses meet these demands, GoodCorporation has developed a digital self-assessment tool that can be deployed cost-effectively by legal and compliance teams across supply chains, partners or subsidiaries. It provides a fast and easy means of properly testing the effectiveness of anti-bribery and corruption practices and procedures.
Comprising a customised questionnaire based on our Anti-Bribery and Corruption (ABC) Framework, our digital assessment tool offers companies a means of conducting in-depth supply chain due diligence that can help protect reputation and reduce the risk of prosecution or malpractice.
This tool uses proprietary grading algorithms, enabling the digital assessment to generate a bespoke report that provides : –
- An overview of existing compliance levels
- Gap identification
- Recommendations for improvement, and
- Benchmarking data
Use of this anti-bribery and corruption digital assessment tool helps provide an evaluation of the adequacy of the anti-corruption compliance programmes of third parties and related entities. It also provides benchmarking data to help companies monitor corruption risks in their supply chain effectively.Find out more about our digital assessment tool
Tips for building an effective code of conduct
Changes to the way we work and what we expect from the workplace have led to something of a revolution in code of conduct development. What was once a rather lengthy list of Dos and Don’ts, is now a key component of corporate governance, communicating company values, purpose and the way you do business; not just to employees, but also suppliers, customers, business partners, contractors, investors and other stakeholders.
Sitting atop the pyramid of regulations guiding any business, today’s code of conduct is a critical component of corporate governance. More than that, a good code will also form a key element of corporate risk management, setting out clear expectations of behaviour to reduce the likelihood of reputationally damaging unlawful or unethical conduct.
Devising an effective code to meet these multiple demands requires careful planning. And while there is no fixed formula for building a good code, there are a number of pointers that are worth bearing in mind.
Our latest blog gives GoodCorporation’s top tips for building an effective code of conduct, based on our 20+ years of experience helping businesses build and embed responsible ways of working. Click here to visit the Code of conduct development page of our website. Or to read the blog, click the button below.
Preparing for new economic crime legislation
The Economic Crime and Corporate Transparency (ECCT) Bill is reaching the final stages of its journey through the UK Parliament.
Faced with growing calls to tackle fraud more robustly, this Bill forms part of the UK Government’s economic crime plan. Its aim is to improve fraud prevention and protect victims, addressing the fact that fraud is the most common offence in the UK.
As a sign of how seriously this is being taken, the UK Government has recently added an amendment that makes the failure to prevent fraud an offence. This would make businesses liable if a person acting on its behalf commits a specified fraud intending to benefit the organisation or its connected entities.
In other words, this is not about employees or others stealing from the company, but is directed at protecting potential victims of fraudulent practices by an organisation, be they customers, suppliers or other businesses.
As with the Bribery Act, the Bill provides corporates with a defence of ‘reasonable procedures to prevent fraud’. It is likely that the definition of reasonable procedures will follow the logic of the Bribery Act, and government guidance will be provided once the Bill becomes law. Our thoughts on what companies need to do now are outlined on the GoodBlog.Tips for developing a code of conduct Preparing for economic crime legislation
GoodCorporation has published its report on ethical culture and practices in the UK engineering profession.
The report contains findings from our detailed survey on behalf of the Royal Academy of Engineering, asking engineers, technicians, engineering companies and professional bodies their views on the industry’s ethical practices.
Our report contains detailed findings from the survey, highlighting strengths and areas for improvement. Click below for full details.
GoodCorporation consultant Clément Caballero appeared on Sky News to speak on workplace culture, addressing the steps that need to be taken to combat bullying and harassment, and in particular, the treatment of women in the workplace.
The interview came about in response to comments from the former Tesco chairman that men are ‘increasingly nervous’ about working with women. Clément draws on GoodCorporation’s extensive experience of improving business behaviour using our range of frameworks.
A study of FTSE 100 companies has shown a fifty percent increase in the number of businesses updating their codes of conduct since the pandemic.
Our Business Ethics Debate at the House of Lords asked why this has occurred, what changes are being made and whether more companies should follow suit. It examined the impact of hybrid working and the need to address this as well as the changing legal and investor landscape. The role of the code in recruiting was also explored.Read the report Watch the Sky News clip Debate summery in full “The code of conduct should encapsulate an organisation’s purpose, values and commitments, both protecting the business and promoting its positive impact. Building an effective code is essential.” Click here to see our services.
To mark international Refugee Week 2023, members of the GoodCorporation got together to share in one of the ‘simple acts’ to promote this year’s theme of compassion. Over lunch we watched and discussed the short film Matar, which tells the story of an asylum seeker in England and his experiences of arriving in the UK. We have also been collecting for Care4Calais a volunteer-run charity providing aid and support for refugees living in the UK, France and Belgium. To learn more, visit the Care4Calais website at https://care4calais.org/