The UK Bribery Act
The UK Bribery Act is a vital instrument to battle bribery and corruption. The regulation enforces strong punishment to a maximum of ten years imprisonment for non-compliance and fines are unlimited. Reputational damage can be very high for companies, individuals and executives, not only the fraudulent parties. More generally, organisations need to maintain their ethical standards. What is the solution?
An Integrated Approach
Many organizations must immediately address the Bribery Act and this requires an integrated approach. Compliance with this regulation is high on the list of the compliance officer. BWise offers a Bribery Act solution that integrates with other GRC initiatives.
The BWise Solution
BWise offers a solution for the UK Bribery Act, BWise® Compliance & Policy Management, that integrates with other GRC initiatives. BWise® Compliance & Policy Management consists of components which assist companies to comply with the UK Bribery Act. The included components consist of:
- Policy Management: BWise® Policy Management enables the storage and management of all relevant policies and corresponding documents.
- Policy Attestation: BWise provides a full audit trail of users in the program for future reference and continuous reporting.
- Compliance Assessment: With control points, a clear overview is continuously available to the compliance officer and responsible managers, including non-conformance and deviation. An integrated audit solution is also available to the third line of defense to create an independent view of compliance.
- Non-compliance incident and policy deviation issue handling: The BWise solution also enables the management of issues.
The BWise solution for the UK Bribery Act includes standard BWise functionality for comprehensive reporting. The appropriate parties are provided with a clear view of current and past compliance status, from the compliance officer at the top to other pertinent parties.