Enterprise Risk Management - Governance & Risk Solutions Masterclass
Course Information
Start Date | |
End Date | 14 Oct 2022, Fri |
Time | 9.00am to 5.00pm |
Mode | |
Fee | SGD 700.00 (excluding GST) |
Contact | Chye Fen | 6720 3333 | training.aventis@gmail.com |
Register Now | |
Get In-House Quotation |
Enterprise Risk Management – Identify and Quantify Any Risk That Affects Your Company’s Business Strategy, Strategic Objectives and Strategy Execution
One of the major risks that a company might face is Corruption and Bribery. Corruption and bribery are major obstacles to the development and successful operation of an organisation. Organisations are increasingly expected to communicate to their stakeholders, internally and externally, the measures and efforts they are deploying to counter and detect corruption and bribery.
Serious and Harsh Penalties of Corruption
A person convicted of an offence under the PCA shall be liable to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 5 years or to both, for each count of corruption. Singapore’s biggest corruption scandal, involving Keppel Offshore & Marine, has shown up areas in the country’s anti-bribery laws that could be strengthened to better deter graft offences overseas. The maximum fine under Singapore’s Prevention of Corruption Act (PCA) of $100,000 per charge is considered too low, thus the scope of the law will soon be widened so that those in the corporate echelons including board of directors, and those lower down in the scheme of things such as agents, will also be held accountable.
Latest: Prevention of Corruption Act In Singapore Could Include Bigger Fines And Wider Net For Prosecutors
This means providing for criminal liability of board directors and senior management if it can be shown that they could have done more to prevent the corrupt practices. It also means that third parties should be penalised for corrupt acts committed overseas, say the experts. Thus, of great importance that organisations put in place and review their anti-corruption and anti-bribery policies and procedures to ensure compliance with all relevant regulations.
Join us for this 1-day training programme to acquire the knowledge, skills and techniques you need to help your organisation develop an effective Anti-Corruption and Anti-Bribery (ACAB) programme. These fines and imprisonment penalties are unnecessary if you take safety precautions in preventing yourself from breaking the law. Do not put yourself into the hot soup!