Bribery Act Could Boost Compliance Culture Says BSI
01 July 2011
Hotel booking agencies are ideally placed to help corporates manage compliance with the new Bribery Act. That’s one of the key findings of a new white paper published by BSI that looks at the likely effect of new anti-corruption legislation on the corporate travel, meetings and events sector.
Agencies routinely coordinate the acceptance of delegate event attendance requests, and capture usage data, especially in relation to delegate management services. “One of the agency’s growing responsibilities is to ensure that the corporations are not embarrassed by employees inadvertently or naively participating in any activity in the meetings and events world, which might lead to brand reputational damage. The same risk arises from breaches of the Bribery Act” says BSI managing director Trevor Elswood.
“Agencies are perfectly placed to inform employees, educate them about company policy and track their activity. HBAs and TMCs can be highly effective in applying governance to these policies” he adds.
Elswood also believes that the Act could even benefit policy compliance in other areas of corporate life. “The Act encourages compliance with preferred channels, and therefore represents good business governance” he says. “It brings the additional transparency sought by procurement and senior executives, and will therefore encourage the combat of maverick spend and processes” he says.
Risky Business is the latest in BSI’s series of IndustryEye white papers, and can be downloaded free of charge from www.bsi.co.uk/resources