The aim of the Copenhagen Charter is to remedy Bribery, Fraud and Corruption discrepancies and create a real, tangible and systematic approach to anti-corruption work in business, processes and organisation in general.
Several decades of globalisation and liberalisation of the world’s economies have changed the way people, money and information travels across states and regions. The changes have reshaped how we perceive the world and how we interact with each other in more ways than the centuries that have passed. This is where the systematic and IT oriented approach of Copenhagen Charter can be practical.
While we in many ways have to embrace the potential that these changes have brought with them like the implementation of The Bribery Act or reinforcing FCPA, there are also worries that the face of corruption and fraud will change in much the same way. Just as new possibilities for wealth creation have emerged, so have new avenues and possibilities for corruption and fraud. This is where the systematic and IT oriented approach of Copenhagen Charter can be constructive.
Efforts have been made to combat the increase in corrupt corporate behaviour, but at the same time, there seems to be no decline in world corruption or fraud for that matter. This is where the systematic and IT oriented approach of Copenhagen Charter can be valuable. For more read here
- Develop an reasonable level of financial and operative independence as well as breadth of internal audit reports to expose corruption and take immediate action to identify, monitor, and report fraudulent activity.
- Organise training sessions, e-learning workshops, seminars and conferences and support overall analysis and evaluation and development plans and dialogues on corruption and how to develop models of sustainability, cost-efficient structures.
- Regularly evaluate the efficiency and effectiveness of financial and internal control systems on Governance, Risk Management, Compliance and IT Security as well as follow up on the Copenhagen Charter’s recommendations related to the detection of bribery and Corruption thru the components of good governance, business ethics, and sustainable development
- Increase focus on reducing the risk of bribery and corruption by pointing out the importance of transparency and accountability, internal control and audit trails on areas and operations subject to corruption by developing effective high risk indicators to prevent bribery and corruption
- Develop tools that establish an effective means for the public dissemination and disclosures of audits, reports and relevant information including establishing a good relationship with the local officials and stakeholders in relation to specific Corruption issues
- Document the method of a closer cooperation and appropriate exchange of information with business organizations, local membership organizations and other national and international bodies fighting corruption
- Creating a mechanism (intranet/database/website) to intensify the exchange of experiences on corruption with stakeholders and other relevant bodies
- Develop the tools that support the establishment of personnel management procedures for the public service that select, retain, and motivate honest, competent employees
- Encourage the establishment of guidance for financial disclosure by public servants, and monitor compliance as part of the ongoing evaluation process related to corruption
- Develop an accepted Code of Ethics to promote higher ethical standards and a code of ethics and integrity issues that primarily is based and focuses on corruption
- Establishment of a well-publicized means to receive and process information from the public on perceived irregularities related to anti corruption to protect against the organizations public image and reputation issues
- Maintain the procedures that work regarding corruption through international existing committees and working groups; for example, the Auditing Standards Committee will consider these issues as part of developing implementation guidance as part of a broader common framework