The International Chamber of Commerce (ICC) has released
“Anti-corruption Third Party Due Diligence”, a new guide to help small- and
medium-sized enterprises (SMEs) assess and manage corruption risks associated
with engaging third party suppliers.
SMEs are often on the receiving end of burdensome due diligence
procedures of large multinational companies. These requirements can be
overwhelming and often companies feel they do not have sufficient resources to
meet them. This new ICC anti-corruption tool addresses these concerns and
inspires businesses to engage in due diligence by creating achievable and
manageable due diligence goals.
"Corruption hinders economic growth and erodes trust in both
businesses and governmental institutions," said Viviane Schiavi, Senior
Policy Manager of the ICC Commission on Corporate Responsibility and
Anti-corruption, and Co-chair of the B20 Anti-corruption Task Force Training
Work Stream.
"It remains a major barrier that impacts businesses negatively by
increasing the costs of doing business -especially for SMEs - and undermining
the quality of both products and services. SMEs are drivers of economic growth
in many economies yet often they need relevant training to do their part for
responsible supply chains and sustainable growth."
This indispensable ICC guide addresses SMEs' need for capacity building
on integrating global supply chains in an ethical and responsible way. It
provides practical advice on how SMEs can cost-effectively conduct due
diligence on third parties they engage to perform services on their
behalf."
This new anti-corruption tool is a direct response to the Turkish G20
and B20 efforts to implement concrete actions for private sector integrity,
especially to empower SMEs in their fight against corrupt activities. It also
supports one of the key United Nations Sustainable Development Goals, to be
adopted during the UN's General Assembly in September, which will work towards
substantially reducing corruption and bribery in all its forms.
ICC has been a pioneer in the business fight against corruption, and is
at the forefront of the development of ethics, anti-corruption and corporate
responsibility advocacy codes and guidelines. The new guide will complement
ICC's robust suite of anti-corruption tools, which includes the Ethics and
Compliance Training Handbook .
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