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GRC Professional : GRC Summer 2013
8 GRC Professional • Summer 2013 ACI NEWS ACI and other leading industry practioners in Australia support a proposal to look at developing a new British standard for an anti- bribery management system (ABMS) into an international standard. The British Standards In stitute (BSI) implemented its BS 10500 Specification for an anti-bribery management system standard in 2011 to help organisations identify risks of bribery in their businesses early in the piece, and help make sure that anti-bribery practices in businesses are maintained and improved over time. It followed the introduction of The UK Bribery Act 2010, which came into force in July 2011, making it an offence for 'failure of a commercial organisation to prevent bribery'. ISO members been developing an international anti-bribery standard but it is not due to be finalised until 2015. The BSI sent a work item proposal to ISO's Swiss headquarters and member bodies in December, suggesting that its BS10500 standard would be a good standard to base an international standard on. It signalled its intention to lead the project with a new committee. ACI managing director, Martin Tolar said ACI would be looking to take a lead role in working on the proposal if Australia decided to become a participating com mittee member. ACI made a substantial submission to the BSI about the sta ndard in 2011. Tolar said those submissions have been given to Standards Australia, so will be fed into the ISO process. In those submissions ACI pointed to the scope to further develop the standard to include a section dealing with the organisational Anti-bribery standard takes new turncom mitment to the ABMS, "which should be driven from the organisation's board of directors, CEO and leading executives". It expressed general concern about training, suggesting there be some method of measurement to demonstrate the training has been effective. It also wanted to ensure that reference was made to the need to integrate the ABMS into an organisation's overall compliance framework. The BSI says the system atic approach of the BS 10500 standard will help organisations and businesses with the following: • stayprotectedandcompliant with legislation • make sure suppliers are committedto a nti-briber y best practice • manage riskacrossyourbusiness upto and including supply chains • potentially cut the cost of your corporate insurance premiums • continually improve and deliver best practice in managing risks • maximise cost effciency,particularly if you already have management systems in place "If ISO could develop this BS 10500 into an international standard, this would be likely to be very well received by member bodies of ISO and their national members" it said. The standard was piloted in early 2012 on four UK organisations ranging from 15 to 50,000 employees, and in July 2012 the first company in the UK was independently certified to BS 10500. If ISO could develop this BS 10500 into an international standard, this would be likely to be very well received by member bodies of ISO and their national members What you are reading in our monthly e-news Companies making news for breaches or failures in their governance, risk or compliance are always popular clicks in ACI's monthly e-new sletter but invariably the most clicked stories involve ACI's own news, advice and promotions. The top five most clicked stories from November and January e-newsletters were: November 2012 • ACI members out front with new standard • Head of Compliance - leading financial institution • ACI Compliance and Risk Management Maturity Model sur vey • LessonsfromLanceArmstrong • ACI submission: superannuation legislation amendment January 2013 • Risk and compliance frameworks - KPMG article • In memory - Maurice Terreiro • Surprise and honour for Associate Graduate (Julie Phillips) • PikeRiver tragedybrings change of heart on whistleblowing • Court action putsD&O insurance to the test We would like to know what you like reading most and whether there are topics you would like to see more of in the newsletter. Contact denise@mahlabmedia. com.au
GRC Spring 2012
GRC Autumn 2013