Corruption hinders the predictability and sustainability of an economy and affects the reputation of all players involved. This phenomenon also negatively influences the general perception towards the industries in which such events are recorded and, subsequently, the country’s overall way of doing business.
The American Chamber of Commerce in Romania (“AmCham Romania”) acknowledges that locally, based on perception and how cases are prosecuted, the public sector is mainly affected by this phenomenon. As such, the private sector can and must be part of the solutions. Private actors of all sizes should share responsibility with the institutions and authorities of the public sector in finding ways to effectively prevent corruption. Companies and business associations, such as AmCham Romania, are increasingly engaging in sector-specific or multi-industry initiatives, locally, regionally and/or globally, to share their experiences, to learn from peers and, in partnership with other stakeholders, to contribute to levelling the playing field.
Building on its vast international experience, AmCham Romania is proposing a set of anti-corruption guidelines. If followed by companies, in correlation with their internal rules and policies, the current guidelines may prevent corruption and increase the effectiveness of internal controls and compliance programs.
The Anti-Corruption Guidelines (the “Guidelines”) contain key principles and recommendations, as well as, guidance and implementation tools, adapted to the Romanian legal framework and business environment. The document was developed based on international toolkits and best practices of some of the largest and well-known companies in the world.
The Guidelines are structured in two chapters: (i) Guidelines including, interalia, Hiring/Recruitment, Sponsorships, Partners and Contractors; and (ii) Implementation including, inter alia, Procedures, Monitoring, Risk Assessment and Due Diligence. AmCham Romania calls its members to demonstrate their leadership by adopting, implementing and sharing effective anti-corruption programs, within their companies, including this Guidelines.