How do you track and record all gifts and hospitality?
Bribery can result in severe legal and reputational costs for your organisation. In some jurisdictions, such as the UK, failing to prevent an employee from bribing someone is in itself an offence. It is, however, a defence to demonstrate that the organisation had adequate procedures in place to prevent this kind of conduct.
Businesses that track gifts and hospitality via long PDF and Excel forms can struggle to ensure any necessary further action is taken. Determining whether gifts comply with laws and policies across multiple jurisdictions can also prove complicated for administrators, especially for gifts sent overseas. Shortcomings in your reporting systems can be taken advantage of by those seeking to abuse their position. But they could also lead to oversights and honest mistakes too.