How to avoid bribery and corruption in business travel
Bribery and corruption scandals continue to emerge, with travel and meetings and events sometimes at the centre.
Follow these tips on how you can help protect your company bymaking compliance a priority.
Inappropriate travel and meetings and events spend can not onlyrisks damaging the reputationof organisations involved in these behaviours, but can also damage the reputations of their suppliers.
However the good news is there are many ways organisations can ensure their activities are conducted appropriately and mitigate the risks associated with bribery and corruption:
Increase your oversight.Centrally manage as much spend as possible to ensure proper scrutiny is applied and discourage the use of cash as much as possible.
Choose a strategic partner.Carefully consider the providers you work with, ensuring they have their own high standards for ethical conduct and accountability.
Know your suppliers. The fewer providers involved, the greater the accountability for each. Global travel management companies and meetings and events providers can serve as the single point of accountability on your behalf.
Understand the rules.Seek assistance from internal and external legal and compliance resources to help you understand requirements and regulations where you operate, and how best to abide by them.
Ask for proof. Ensure all spending is well-accounted for by implementing approval processes, expense reporting, and auditing procedures. For meetings specifically, clearly articulate the purpose for every event and expenditure.
For more advice on how to mitigate risk in corporate travel, please call +44 (0)20 3353 0340 oremail