APEC Anti-Corruption Business Code
APEC Anti-Corruption Business Code is my shortened keywords for ‘Implementing the Asia-Pacific Economic Cooperation (APEC) Anti-Corruption Code of Conduct for Business (or APEC Code)’.
The content that follow is a short summary of the Final Project Report delivered by Anti-Corruption and Transparency Working Group dated December 2012.
APEC Anti-Corruption Business Code
Executive Summary
This report documents two components: the Baseline Study and the Forum on the Implementation of the Asia-Pacific Economic Cooperation (APEC) Anti-Corruption Code of Conduct for Business. The Baseline Study was carried out through online survey, analysis of available documents and other reviews of secondary information assessing the “extent that governments, business association, and private enterprises of APEC member economies have put in place policies, programs, and practices”.
The study shows that several provisions of the APEC Code are encoded in the 17 member economies being studied. The provisions can be found in the following code provisions of the economies: Prohibition of Bribery, Program to Counter Bribery, Raising Concerns and Seeking Guidance, Gifts, Hospitality and Expenses, and Leadership.
The project recommends:
– That business associations should promote the APEC Code by influencing their member companies in fighting against corruption globally;
– That enterprises should post anti-corruption policies/programs/codes on their websites to raise public awareness;
– That consumer groups may serve as watchdogs; and
– That member economies should regularly monitor their policies and practices and update their implementation.
APEC Anti-Corruption Business Code Project Brief:
Rationale
The APEC summit in Santiago (Chile, 2004) acknowledged that corruption is a threat to “good governance and economic growth in the growth”. Transparency International (TI) pointed out in its Global Corruption Report 2009: Corruption and the Private Sector that many actors in the business sector with entrusted powers can abuse them for their own personal gain, which will cause a breakdown to various social institutions and society at large.
Project Overview
Implementing the APEC Code (Asia-Pacific Anti-Corruption Code of Conduct for Business) puts importance on curbing corruption in small and medium size enterprises. Effectiveness and transparency in the sector is the project’s major aim.
Project Objectives
Generally, the project aims to establish “a culture of transparency, accountability, institutional integrity, and good governance among SMEs, industry groups and regulatory bodies of APEC member economies.”
Framework
The framework of the project is the APEC Codes which prohibits all forms of corruption and provides guidelines to enterprises to develop among themselves their own anti-bribery programs then implement them.
Results of the baseline study
The results of the study include relevant key points that will be summarized into headings as below.
1. Prohibition of Bribery
2. Program to Counter Bribery
3. Scope and Guidelines: Charitable Contributions, Gifts, Hospitality and Expenses; Facilitation Payments, Political Contributions
4. Program Implementation Requirements: Business Relationship, Communication, Leadership, Human Resource, Financial Recording and Audit, and Monitoring and Review, Raising Concerns and Seeking Guidance, Training, Organization and Responsibilities
Recommendations of the project verbatim:
“The project recommends that business associations promote the adoption of the APEC Code, considering their leverage in influencing their member companies to join the global campaign against corruption. Best practices in encouraging member companies to adopt ethical corporate management principles should serve as good examples that maybe emulated by APEC member economies.
Enterprises, on the other hand, are encouraged to post their anti-corruption policies and programs, especially codes of conduct, on their websites to heighten public awareness on such initiatives. Aside from corporate annual reports, enterprises should also be encouraged to prepare corporate responsibility reports showcasing their integrity initiatives including, but not limited to, the adoption of the APEC Code.
Consumer groups may also be involved to serve as watchdogs against unethical conduct or practices of private companies.
Lastly, the continuous monitoring of the implementation of the APEC Code or of policies and programs consistent with its provisions among member-economies is highly recommended. This is necessary in order to come up with meaningful programs to promote its implementation.”
Find the full document here: http://publications.apec.org/publication-detail.php?pub_id=1371
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