KPMG Anti-Corruption Compliance Tool is a digital tool that can automate various aspects of Anti-Bribery and Corruption (ABC) compliance programmes, as opposed to the traditional approach that is generally based on manual processes. The tool can be customised according to an organisation’s policies and procedures to implement and monitor its ABC corporate compliance program.
Such compliance programmes are mandatorily implemented in many organisations pursuant to statutes such as the Indian Prevention of Corruption Act, US Foreign Corrupt Practices Act, United Kingdom Bribery Act, etc.
Need for the tool
With increased acceptance of remote working globally, an automated function like KPMG Anti-Corruption Compliance Tool that facilitates requisite compliance oversight is even more critical.
While some countries are yet to have stringent ABC legal frameworks, in the last few years, many countries, including India have amended their ABC laws to include corporate liability for corrupt practices. With multi-jurisdictional presence, the risk of implication, even if the offence of bribery is committed in a country with lax or no ABC legal framework, cannot be avoided. Therefore, it is important for organisations to have an effective ABC compliance programme to mitigate the bribery and corruption risks.