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5 (More) Good Reasons Why ABAC Compliance Should be a Priority for Boards

Corporate leaders, including boards of directors, are beginning to pay more attention to bribery and corruption risk. Though growing, this trend is not universal. For all too many organizations, anti-bribery and corruption (ABAC) efforts fall far down the “to do” list.

The World Economic Forum – an organization for public-private partnership which has its flagship meeting in Davos each year – thinks ABAC is so important it has created a specific initiative around it. Called the Partnering Against Corruption Initiative (PACI), the group launched a new report, The Future of Trust and Integrity in August 2018. The report talks about how bribery and corruption can be reduced through projects that focus on change in three key dimensions of trust and integrity – institutional, behavioural and technological dimensions. The PACI group is now targeting projects in all three dimensions.

The fact that the World Economic Forum is engaging so explicitly in ABAC should make it clear to boards how important the fight against bribery and corruption is. However, below are five more good reasons why boards should make their ABAC programs a priority:
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Topics: third party risk management, board of directors, reputational risk, board accountability, ABAC compliance, anti-bribery, ethical leadership, duty of care, anti-corruption