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Hi,
What do the ‘Six principles’ relate to on page 13 of the course notes please?
Thanks
Ignore the above question…it was a stupid question I figured it out…exam stress is getting to me!
Wow! Do you want to share? That has saved me from looking at the course notes, but I would appreciate a reminder if you have the time – just a note about which area of P7 the six principles relate to would be sufficient
Basically relating to bribery. Since a company or partnership can be liable if an agent, employee or subsidiary bribes another person, it is important that the company has a form of ‘defence’ to protect itself. Therefore, there should be adequate procedures put in place and these are based on six guiding principles, being:
– Proportionate measures (to risks faced by company)
– Commitment by management (to assess risks and develop procedures to manage the risks)
– Due diligence (in respect of company personnel)
– Communication (to employees including training procedures)
– Monitoring and review (procedures should be regularly reviewed and improved)
– Overall adequacy of procedures will be a matter for the court to decideIf a company can prove that it has implemented the above procedures to prevent bribery then it can defend itself from litigation.
🙂
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