ASIC - the Culture Vulture plus Foreign Bribery and Corruption - Brisbane
Aug 2015 |
Please join our Brisbane seminar as Tony Stumm, Partner and Audine Bartlett, Senior Associate discuss ASIC's interest in corporate culture and the real and present risk that foreign bribery and corruption poses for Australian companies.
Topics to be covered include:
The Culture Vulture and ASIC’s philosophy
Tony will give an explanation and analysis of Greg Medcraft’s recent comments on the proposition that corporations with a non compliance culture ought to be made responsible for employees’ misconduct which can be attributed to a bad corporate culture. Tony will also explain ASIC’s philosophy and why company directors should be aware of this ASIC initiative.
Foreign bribery and corruption
Audine will discuss the real and present risk corporate bribery and corruption poses for Australian companies. She will give an overview of recent global trends, legal frameworks and Australian developments in the fight against corporate corruption and in particular, the corrupt practices of companies doing business abroad. Audine will also give some salient tips on what companies should consider in order to implement effective anti-bribery and corruption procedures and controls.
Corporate bribery and corruption is a real and significant risk for Australian companies. According to a recent Deloitte survey of Australian and NZ companies, 40% of organisations have operations in high risk jurisdictions, and of these, 35% have experienced a bribery and corruption incident in the last 5 years. Disconcertingly, many organisations have failed to put in place adequate corporate compliance systems to mitigate against potential foreign bribery risks.
Now more than ever, Australian companies that operate in, or have a nexus with overseas jurisdictions, need to be proactive in taking steps to identify, and protect against, the risk of employees, contractors, and agents engaging in acts of bribery overseas. Implementing effective anti-bribery and corruption controls will help a company prevent and manage corruption risks, and act as a defence to any potential enforcement actions.
Date
Wednesday 19 August 2015
Time
7:30 AM-9:00 AM
Where
Queensland Law Society
Level 2
179 Ann Street
Brisbane
To RSVP, please contact Alyssa Watt on 07 3000 8445 or awatt@carternewell.com