A Guide for Anti-Corruption Risk Assessment
The effective assessment and mitigation of a company’s corruption risk has been an element of many recent regulatory agency agreements, with a prominent place in OECD Good Practice Guidance on Internal Controls, Ethics and Compliance and in the Guidance issued to accompany the UK Bribery Act. It is also a critical element of the UN Convention against Corruption, including the 10th Principle of the UN Global Compact.
In that sense, UN Global Compact developed this document to provide a step-by-step guidance on how to conduct a neutral and independent anti-corruption risk assessmentA key component of an anti-corruption program in any company, even though the appropriate scope of an assessment, as well as its context and range of factors (sector, size, geographic reach and scope, etc.) vary from company to company.
The document includes information about anti-corruption efforts, the importance of effective risk assessment, and the potential uses of the results of an assessment. Also provided are a set of principles that can be adopted and a six-step process to establish a risk assessment: establish the process, identify the risks, classify the risks, identify mitigating controls, calculate the remaining residual risk, and develop an action plan.
Year of publication: 2013
Author: UN Global Compact
The United Nations Global Compact (UN Global Compact) is a call from the United Nations (UN) to companies to voluntarily align their operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment, and anti-corruption, and to act in support of UN goals and issues. The UN Global Compact is a leadership platform for the development, implementation and dissemination of responsible corporate policies and practices.
Launched in 2000, it is the world’s largest corporate sustainability initiative, with more than 12,000 signatories in 145 countries.
More information: https://www.unglobalcompact.org/library/411