OECD's consultation of external stakeholders on the draft revised recommendation for further combating bribery of Foreign Public Officials in international business transactions
ACCA supports the 2009 Recommendation for Further Combating Bribery of Foreign Public Officials in International Business Transactions and we welcome the review of the Recommendation. As a member of IFAC, (the International Federation of Accountants) we support their comments on the draft text, and on the importance of ethical standards for our members. In addition, we have welcomed the opportunity to contribute to the Business At OECD (BIAC) engagement with the WGB over the course of the review of the Recommendation, and support the comments in their broader response to this draft, which reflect our views and position.
The Recommendation should be a living document which evolves to reflect the changing nature of both the threat of bribery and the countermeasures available to combat it. Patterns of global trade have changed since 2009. The growing exposure of smaller businesses to the threat of international bribery is rightfully recognised with the increased emphasis in the draft Recommendation on the appropriate and proportionate measures which they should put in place.
Similarly we welcome the recognition of the role which larger businesses and organisations can play, both directly and indirectly, to support small and medium sized enterprises by creating an environment in which bribery is seen as unacceptable, and the tools and mechanisms available to recognise and report it.
To read the detailed response, please download the consultation response documents.