In a dedicated event today, AmCham Romania launched the Guidelines on the Conflicts of Interest, in an effort to raise the level of knowledge and awareness of conflict of interest situations that may occur in both public and private sectors.
The Guidelines on the Conflicts of Interest elaborated by members of the AmCham Romania Corporate Governance Committee also aim to increase the effectiveness of compliance programs and monitoring practices implemented by private companies and state-owned enterprises.
Anda Todor, AmCham Romania Vice-President and Chair of the AmCham Corporate Governance Committee opened by the event by reiterating AmCham’s commitment to support its members in their own efforts to identify and prevent integrity incidents caused by conflicts of interest. Anda also mentioned that the Guidelines are based on best practices already implemented by some of AmCham’s members and outline a simple, clear, easy-to-implement set of principles and recommendations.
During the event, representatives of the public institutions - Bogdan Stan, President of the National Agency for Integrity (ANI), Marius Cătălin Vartic, State Secretary, Fight Against Fraud Department, Marieta Safta, State Secreatary, Ministry of Justice acknowledged AmCham’s commitment towards raising awareness on the topic of conflicts of interest and appreciated the Guidelines for the clarity of the principles and easy to implement recommendations.
They have also mentioned the convergence of this AmCham initiative with the objectives of the integrity and anti-corruption strategies currently implemented in the public sector – Prevent – ANI and the Ministry of Justice National Anti-Corruption Strategy.
In introducing the Guidelines, Sebastian Popovici, Vodafone, Deputy Chair AmCham Corporate Governance Committee defined conflicts of interest as being any circumstances that can affect a person’s objectivity at the workplace and emphasized that addressing conflicts of interest is equally relevant for public and private sectors, while efforts to avoid it should primarily focus on prevention measures.
A practical approach of avoiding conflicts of interest was presented by Lavinia Gheorghe, Manager Forensic Services – PwC Romania, who pointed to the importance of a top-down approach in which the company management has the responsibility to role model the company policies in the field.
AmCham Romania invites all members to share the Guidelines with all relevant members of their team, business partners and network, as an expression of the business community’s commitment to contribute to the prevention of conflicts of interest and corruption risks.
AmCham warmly thanks ASEBUSS, Bondoc & Asociatii, CMS Romania, Dentons, PwC Romania, Roche Romania, Siemens Romania, Telekom Romania Communications and Vodafone for their contribution to the elaboration of the Guidelines.