Case Studies - Procurement (28/7/2017)Procurement of goods and services is essential to a company’s operation and often involves substantial expenditure. From the ICAC’s experience, it is one of the vulnerable business functions most susceptible to corrupt manipulation and malpractice. Any corruption in procurement not only brings financial losses to a company, but also adversely affects its business reputation.
The Portal has newly uploaded two procurement cases, namely “Leakage of Tender Information” and “Use of Bogus Invoices”. These case scenarios are drawn up based on actual corruption cases. Please click here to view the details.
FAQ - Acceptance of Entertainment (5/7/2017)You may have heard that “entertainment” is not a kind of “advantage” under the Prevention of Bribery Ordinance (POBO). Does it mean that we do not need to pay any attention when being offered “entertainment”?
The Portal has newly uploaded three frequently asked questions, namely “What is entertainment under the POBO?”, “As advantage does not include entertainment under the POBO, does it mean that we do not need to pay any attention when accepting entertainment?” and “How could company help staff to handle entertainment?”. Please click here to view the details.
You may wish to know that the Hong Kong Business Ethics Development Centre of the ICAC, together with 18 organisations, will organise a Conference on Business Ethics for Listed Companies 2017, namely “Corporate Governance: Compliance and Beyond” on 1 September 2017. Distinguished speakers from regulatory agencies and professional bodies will speak on the latest trend and development in corporate governance as well as share their leading practice on ethical leadership. Seats are limited, so enrol before 7 August 2017 (Monday). Please click here for Conference details.
Red Flags - Sales Operation (31/5/2017)Sales is the key business function of most companies, which directly impacts on their profitability. As it involves the exchange of goods/services and substantial sales proceeds, there are inherent risks of bribery and fabrication of transactions for personal gain.
The Portal has newly uploaded some red flags in sales operation. These are warning signs which by themselves may not constitute cases of fraud or corruption but indicate an area where management oversight is required to safeguard against fraud and corruption. Please click here to view the details.
You are also encouraged to browse the website of the Hong Kong Business Ethics Development Centre of the ICAC which has recently launched a dedicated webpage, “It’s just not worth it”, to provide smart tips on ethical practices to the business community. Please click here for details.
FAQ - Managing Conflict of Interest (12/5/2017)Managing conflict of interest is important to good governance in any company. Conflict of interest if improperly managed, can give rise to perception of favouritism, abuse of authority or even corruption opportunities.
The Portal has newly uploaded two frequently asked questions, namely “Are there examples of conflict of interest” and “How to handle conflict of interest situations” . Please click here to view the details.