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What are the best ways to identify corrupt practices by your suppliers?

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Corruption is a serious threat to the integrity, reputation, and performance of any business that relies on suppliers. It can lead to wasted resources, legal risks, environmental damage, and human rights violations. Therefore, it is essential to have effective ways to identify and prevent corrupt practices by your suppliers, especially in high-risk sectors and regions. In this article, you will learn some of the best ways to do so, based on industry standards and best practices.

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Stephen Tosh

Global Risk Alliance Ltd | National corruption risk assessment | Consultancy and education services | Anti-Corruption…

1 Assess your risks

The first step to identify corrupt practices by your suppliers is to assess your own risks and exposure. This means evaluating your sourcing strategy, your supplier selection criteria, your contract terms, and your monitoring mechanisms. You should also consider the industry, country, and context of your suppliers, as some sectors and regions are more prone to corruption than others. For example, you can use tools such as the Corruption Perceptions Index, the Global Corruption Barometer, or the TRACE Bribery Risk Matrix to assess the level of corruption in different countries.

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Stephen Tosh

Global Risk Alliance Ltd | National corruption risk assessment | Consultancy and education services | Anti-Corruption Education Network
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Prior to introducing a risk assessment process and as part of the planning process, a review must first be carried out of the controls framework that is currently in place and the anti-corruption policies and procedures. Once there is an understanding of the current prevention framework that is in place then any assessment of risk should take into consideration whether control measures, procedures and expertise and capabilities are adequate to mitigate the assessed risks.

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2 Conduct due diligence

The second step to identify corrupt practices by your suppliers is to conduct thorough due diligence on their background, reputation, and performance. This means verifying their legal status, financial records, ownership structure, and compliance history. You should also check their references, certifications, and accreditations, and look for any red flags such as sanctions, lawsuits, or negative media coverage. You can use online databases, third-party verification services, or on-site audits to conduct due diligence on your suppliers.

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3 Implement anti-corruption policies

The third step to identify corrupt practices by your suppliers is to implement clear and robust anti-corruption policies and procedures in your own business and require your suppliers to adhere to them. This means defining your expectations, standards, and codes of conduct regarding ethical sourcing and business practices. You should also establish reporting channels, whistleblowing mechanisms, and grievance procedures for your employees, suppliers, and stakeholders to report any suspected or actual cases of corruption. You should also provide training and awareness programs on anti-corruption topics for your staff and suppliers.

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Stephen Tosh

Global Risk Alliance Ltd | National corruption risk assessment | Consultancy and education services | Anti-Corruption Education Network
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Introducing robust anti-corruption policies and procedures must support the flow of risk information within an organisation to ensure that all staff know their role and responsibility within any anti-corruption approach and that any identified risks can be reported to the relevant individuals and/or executives to ensure that proper decision making and change management can be made to mitigate identified corruption risk.

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4 Monitor and review

The fourth step to identify corrupt practices by your suppliers is to monitor and review their performance and compliance on a regular basis. This means collecting and analyzing data, reports, feedback, and complaints from your suppliers and other sources. You should also conduct periodic audits, inspections, and evaluations of your suppliers' operations, processes, and records. You should also use key performance indicators (KPIs), benchmarks, and scorecards to measure and compare your suppliers' performance and compliance against your expectations and standards.

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5 Enforce and improve

The fifth step to identify corrupt practices by your suppliers is to enforce and improve your anti-corruption measures and actions. This means taking appropriate corrective and preventive actions in response to any incidents or issues of corruption involving your suppliers. You should also communicate and collaborate with your suppliers to address any gaps, challenges, or opportunities for improvement in their anti-corruption practices. You should also review and update your anti-corruption policies and procedures regularly to reflect any changes in your business environment, regulations, or best practices.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Stephen Tosh

Global Risk Alliance Ltd | National corruption risk assessment | Consultancy and education services | Anti-Corruption Education Network
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It is not unusual for less than one percent of staff to be involved in corruption risk identification and mitigation. To better understand the levels of risk that an organisation is faced with, engaging all operational staff that are directly or indirectly involved with anti-corruption and associated policies and procedures, systems and control measures, giving greater responsibility and ownership of decision making and change management where risk is identified within their area of operations can create a total quality ownership approach to risk identification and mitigation, creating a greater flow of information within a top down and bottom up approach.

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What are the best ways to identify corrupt practices by your suppliers?

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2

3

4

5

6

1 Assess your risks

2 Conduct due diligence

3 Implement anti-corruption policies

4 Monitor and review

5 Enforce and improve

6 Here’s what else to consider

Supplier Sourcing

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What are the best ways to identify corrupt practices by your suppliers?

1

2

3

4

5

6

1 Assess your risks

2 Conduct due diligence

3 Implement anti-corruption policies

4 Monitor and review

5 Enforce and improve

6 Here’s what else to consider

Supplier Sourcing

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