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Anti-corruption best practices, safeguarding integrity and reputation are put in the spotlight for the business community
Dentons, Deloitte and Reff & Asocia?ii - Deloitte Legal, in partnership with AmCham Romania, hosted a conference “Protect your integrity and reputation through anti-corruption prevention mechanisms” on Wednesday, November 16, 2016. The event also introduced the “Guidelines on the assessment of third parties’ corruption case history,” an instrument prepared by Amcham Romania’s Corporate Governance Committee aiming to afford companies a best practices’ guide on how to lower the risk of engaging in corrupt activities.
In her opening address, Anda Todor, Managing Partner at Dentons Bucharest and Chairman of Amcham Romania’s Corporate Governance Committee discussed integrity in the business environment and the role of ethics and conformity policies within companies, mentioning that:
“Ethical business conduct based on transparency and fair-play guarantees a company’s success, and at the same time, it defines its values. Not lastly, the anti-corruption mechanisms are a hot topic at the moment, as they are more result and cost efficient than post-factum remedies, hence the reason to bring this subject into the spotlight.”
In the presentation of the Guidelines on the assessment of third parties’ corruption case history, Anda Todor mentioned that the document represents a helpful instrument for companies which will enable them to reduce significantly the risk of engaging in corrupt activities through third parties with whom they have business relations, i.e. consultants, intermediaries, agents.
“The guide is addressed to all companies regardless of their domain, activity sector, number of employees, and is designed as a feasible, adaptable instrument that may take on the particulars of each company. I believe that implementing these compliance programs will give companies a competitive advantage rather than hindering their business, by reducing risks, increasing performance and offering a superior motivation to employees, and, of course, by creating a more sustainable business.”
In turn, Paula Lavric, Forensic Director at Deloitte said that an honest business cannot be attained without observing the ethics and transparency of processes that represent the foundation of an ethics culture of a company.
“Eliminating fraud potential and personal example from the management regarding integrity are essential parts of anti-corruption programs,” says Paula Lavric. “This is the starting point of an ethical culture within a company, by the power of example of those in charge. Also, it is very important to have implemented an efficient fraud and corruption warning system, what we call a Whistle-blower-procedureand that, at the public system level, is provided under the integrity alert law.”
The minister for Public Consultation and Civil Dialogue, Victoria-Violeta Alexandru, mentioned that the ministry which she represents has put effort in 2016 to identify systemic causes and come up with a structure for analysis and reflection, able to identify solutions.
“Society has changed. We need transparency and integrity, noted Minister Violeta Alexandru during the conference. “The Sole Registry of Interests’ Transparency – RUTI is an instrument enabling registered companies to prove their transparency and integrity in influencing public decision.”
Andrei Burz-Pînzaru, Partner, Reff & Asocia?ii, the legal firm representing the international legal network Deloitte Legal in Romania stated that, as the criminal commercial activities are increasing, a multidisciplinary approach is vital not only to encompass the legal component of the purely criminal law risks, but also the areas of all the substantive laws where these risks manifest, being fiscal, accounting, capital markets, company laws or competition regulations.
“We believe that the multidisciplinary approach is vital, whether we are discussing compliance programs, investigations or risk evaluation and resorting to defence only if such risks take form,” added Burz-Pînzaru.
The conference gathered representatives of top local and international organizations, together with professionals and touched on the most recent solutions concerning compliance and ethics, including information regarding best anti-corruption measures, data protection and risk management. The agenda also included case studies, discussions and analyses of the Romanian business model as well as solutions for building an efficient compliance system.
Other lecturers in this event included: Mr. Adrian Baboi-Stroe, Secretary of State, Ministry of Justice; Mr. Bogdan Stan, Chairman of the Agency for National Integrity; Mr. Maxwell Carr-Howard, Partner at Dentons in the US and Mr. Sebastian Popovici, Compliance Manager at Vodafone Romania.
Also in attendance were government representatives, compliance specialists, lawyers and business consultants. The event facilitated an interactive exchange of ideas, best practices and expertise aiming to identify the best solutions for any issues arising in connection with the observance of anti-corruptions norms.