Tips for Good Environmental, Social and Governance Reporting under the Anti-Corruption Aspect (31/10/2018)Apart from financial performance, investors nowadays also tend to focus on listed companies’ performance in corporate governance. A comprehensive corporate anti-bribery management system is a key element of good corporate governance. The ICAC published in 2016 an “Anti-Corruption Programme – A Guide for Listed Companies” to provide guidance to Hong Kong listed companies in establishing/implementing their anti-bribery management systems. This year, to further assist listed companies in enhancing the quality of their disclosure under the anti-corruption aspect, we have developed a user-friendly supplementary leaflet to the Guide on the tips for good environmental, social and governance reporting under anti-corruption aspect, covering the recommended core elements for disclosure.
The Guide and the leaflet have been uploaded on this Corruption Prevention Advisory Service (CPAS) Portal.
Case Studies - Estate Agency Trade (29/3/2018)In Hong Kong, the service provided by estate agency companies is of great public interest and most property transactions are brought about by the estate agents or salespersons they employ. It is important that all estate agency companies, estate agents and salespersons work in an honest and prudent manner to protect their clients’ best interest, and the reputation of estate agency trade.
The Portal has uploaded three cases on estate agency trade, namely “Solicitation/Acceptance of Illegal Commission from Clients”, “Solicitation of Illegal Commission from Subordinates” and “Diverting Business to Another Estate Agency” to the Portal. These case scenarios are drawn up based on actual corruption cases. Please click here to view the details.
Red Flags - Accounts (29/12/2017)Accounts is a key function for every company as it systematically records and helps monitoring the funds of a company. A sound control system in accounts assists detection of possible malpractice such as embezzlement of cash, fraudulent claims of reimbursement, etc. which may result in financial loss and increase the operational costs of a company.
The Portal has newly uploaded some red flags in accounts. 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.
FAQ - Offer/Acceptance of CommissionOffer/acceptance of commission as a reward for referral of business is a common commercial practice. However, will this practice contravene the Prevention of Bribery Ordinance?
The Portal has newly uploaded three frequently asked questions on the topic for your better understanding on the relevant legal requirements. Please click here to view the details.
Corruption Prevention Toolkit for Catering Industry (30/10/2017)In collaboration with the catering industry, the ICAC has produced a “Corruption Prevention Toolkit for Catering Industry” (the Toolkit) to assist all stakeholders to prevent corruption in the catering industry. The Toolkit provides guidance on the key legal and probity requirements, and practical tips for corruption prevention in relation to the daily operations of the catering industry.
The Portal has newly uploaded the full version and concise version of the Toolkit.