This episode goes over the first two fundamental elements of the National Anti-Corruption Commission’s guidelines. The first guidance is where companies’ internal control measures should be strong, visible policies and supported by top-level management to prevent bribery. The second guidance is that companies should conduct risk assessments to effectively identify and evaluate exposure to bribery to government officials.
In this article we will discuss the third fundamental element under the National Anti-corruption Commission (NACC)’s guidelines, namely “enhanced and detailed measures for high-risk and vulnerable areas.”
In our previous article in the healthcare transaction series, we highlighted the need to review a target’s supply chain as one of the key areas and issues that one should pay attention to when carrying out a due diligence investigation on a healthcare & life sciences (HLS) target. This exercise in revisiting one’s supply chain in light of the COVID-19 pandemic and emerging industry trends, including (among others) digital transformation, will ensure that the company’s supply chain is resilient, compliant, and ready to meet the challenges and opportunities in the HLS industry.
In this article, we will discuss the second fundamental element under the NACC’s guidelines, which is “the risk assessment to effectively identify and evaluate exposure to bribery.
In our previous article (link), we discussed the benefits for a company that has appropriate internal control measures. For the second article of the series, we will discuss the first fundamental element under the NACC’s guidelines, which is “the companies’ internal control measures should be strong, visible policies and supported by top-level management to prevent bribery.”
Under the Organic Act on Counter-Corruption, B.E. 2561 (2018), companies operating in Thailand must put in place “appropriate internal control measures” that comply with the National Anti-Corruption Commission’s (NACC) guidelines. Failure to do so carries a penalty of a fine from one to two times the value of the damage caused, or benefits gained, as a result of the violation.
In our previous newsletters, we highlighted the two most common types of fraud and red flags to look out for as they could be an indication that fraud has been committed in the workplace. In this newsletter, we will emphasize the need to have an effective whistleblowing system, a very…
Our Fraud in the Workplace series highlights the most common types of fraud at work and what companies should be aware of to prevent harm arising from fraud in the workplace. Featured Insight
On 22 July 2018, the Act Supplementing the Constitution Relating to the Prevention and Suppression of Corruption came into effect, replacing the previous anti-corruption law from 1999. Among other things, the reason for implementing the new law is to enhance measures and mechanisms to prevent and suppress corruption and willful misconduct.
On 9 July 2015, the Government Gazette published Amendment No. 3 to the Anti-Corruption Law, 1999, which came into effect on 10 July 2015. The reason for this amendment is to comply with international standards for prevention and suppression of corruption, which Thailand ratified under the treaty of the United…