The Malaysian Anti-Corruption Commission (MACC) has issued five Anti-corruption Principles for corporations requiring companies to sign a pledge making a unilateral declaration that it will not commit corrupt acts, will work toward creating a business environment that is free from corruption and will uphold the Anti-corruption Principles for corporations in Malaysia in the conduct of its business and in its interactions with its business partners and the government.
The Anti-corruption principles are:
- Committing to promoting values of integrity, transparency and good governance
- Strengthening internal systems that support corruption prevention
- Complying with laws, policies and procedures relating to fighting corruption
- Fighting and form of corrupt practices
- Supporting corruption prevention initiatives by the Malaysian Government and the MACC
The long-term program is intended to see companies gradually moving towards self-assessment and reporting on anti-corruption measures. The pledge is a voluntary tool, to aid companies which recognize the importance of anti-corruption measures in being a competitive business and operating in increasingly competitive and globalized markets. These measures will also create a level playing field for SMEs.
Source: Malaysian SME News