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Anti-Corruption Policy Template
- 04 March 2025
- Regulatory Compliance and Legislation
- South African Accounting Academy
Summary:
The South African Institute of Chartered Accountants (SAICA) has published an Anti-Corruption Policy, as a template and guide which is designed to help companies/firms/entities draft an effective anti-corruption policy.
Article:
An anti-corruption policy is essential for promoting ethical business practices and ensuring compliance with legal standards.
The purpose of this policy is to ensure that a company/firm/entity complies with the Prevention and Combating of Corrupt Activities Act (PRECCA) and to promote a culture of integrity and transparency within the organisation.
This policy applies to all employees, directors, officers, agents, contractors, and any other third parties associated with the company/firm/entity.
This template provides a structure for developing an Anti-corruption Policy in compliance with section 34A of PRECCA.
It is essential to modify this template to suit a business. No one size fits all. Please note that it is mandatory for all private sector businesses to have adequate procedures to prevent and combat corruption that may emanate from the business. Failure to have such procedures may result in massive legal, financial and reputational risks.
Click here to download the SAICA Template:
Relevance to Auditors, Independent Reviewers & Accountants:
- PRECCA is yet another piece of legislation that your clients must comply with, and which you must assess compliance with. If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
- It is mandatory for all private sector businesses to have adequate procedures to prevent and combat corruption that may emanate from the business. Failure to have such procedures may result in massive legal, financial and reputational risks.
- As an auditor and independent reviewer, you may need to assist your clients in drafting policies, and this template provides a structure for developing an Anti-corruption Policy.
- You should be aware of useful guides that are published by regulators and stakeholders, e.g. SAICA.
Relevance to Your Clients:
- An entity (company or close corporation) has a duty to comply with PRECCA and other anti-money laundering legislation.
- It is mandatory for all private sector businesses to have adequate procedures to prevent and combat corruption that may emanate from the business. Failure to have such procedures may result in massive legal, financial and reputational risks.
- An entity should be aware when a template is available to assist them.