The Bribery Act 2010
The Bribery Act 2010 comes into force on 1 July 2011.
All businesses (including SMEs) will need to assess whether there is a risk that an agent, subsidiary or other person performing services for its business might bribe an individual or foreign public official.
If your assessment reveals a risk then you will need to;
- put in place procedures proportionate to the risk you have identified, the scope and size of your business, and the country/ies in which you do business
- show your clear commitment to the prevention of bribery
- use due diligence to assess who you are dealing with and who you appoint to represent you
- communicate, train and raise awareness among employees and business partners
- monitor and review your procedures
Businesses will still be allowed to provide genuine business hospitality, and carry out proportionate and reasonable promotional activities
Call us if you need help with your assessment, or for more information.
Wisdom Da Costa B.Sc(Hons), FCCA, AMCT
NotesThere are three specific offences under the Bribery Act;
1. a general offence of bribery,2. an offence of bribing a foreign public official in order to win business, keep business or gain a business advantage for the organisation
3. an offence relating to failure by a business to prevent a person associated with it from committing the above offences on its behalf in order to win business, keep business or gain a business advantage for the organisation
a. You will have a statutory defence to this offence if your business has adequate procedures in place to prevent bribery on your behalf
"Bribery" is defined as giving someone a financial or other advantage to induce them to perform their functions or activities improperly, or to reward them for having already done so.