From 1st June, Sec 17A of the MACC Act comes into force.
Why must businesses, management & directors pay attention?
1) If a person associated w company (which includes staff, 3rd party agents, etc.) commits bribery, d company also commits the offence
theedgemarkets.com/article/pmo-co…
Why must businesses, management & directors pay attention?
1) If a person associated w company (which includes staff, 3rd party agents, etc.) commits bribery, d company also commits the offence
theedgemarkets.com/article/pmo-co…
2) If d company commits offence, a director, controller, partner or whoever manages affairs of company (at time of commission of offence) is deemed to have committed d offence of bribery.
Simply put, management can be charged for corruption if his/her staff engages in corruption
Simply put, management can be charged for corruption if his/her staff engages in corruption
3) A defence which management can raise is if he/she had put in place "adequate procedures" to prevent commission of bribery.
It is thus imperative for companies to obtain advice on what amounts to "adequate procedures".
It is thus imperative for companies to obtain advice on what amounts to "adequate procedures".
4) PMO under PH Gov has issued a "Guidelines on Adequate Procedures", which introduced the T.R.U.S.T principles:
- Top Level Commitment
- Risk Assessment
- Undertake Control Measures
- Systematic Review, Monitoring, Enforcement
- Training & Communication
giacc.jpm.gov.my/wp-content/upl…
- Top Level Commitment
- Risk Assessment
- Undertake Control Measures
- Systematic Review, Monitoring, Enforcement
- Training & Communication
giacc.jpm.gov.my/wp-content/upl…
