Safeguarding Your Business With Section 17A of The MACC Act 2010

Introduction

Section 17A of the MACC Act 2010 which came into effect on 1 June 2018 introduced a corporate liability provision whereby a company would be liable for the corrupt acts of their directors, employees and associates including third parties where such corrupt acts were done for the benefit of the company.

The consequences of a breach of Section 17A are not limited to penalties and fines but also huge reputational damage which may impact a company's business sustainability.

The new provision encourages companies to take appropriate steps to ensure that their business is conducted with integrity.

The Guidelines on Adequate Procedures was produced with the objective of assisting companies in implementing Adequate Procedures to prevent the occurrence of corrupt practices in their business operations. It shall be a defense for companies to show that they have implemented an effective Adequate Procedures.

Learning outcomes / benefits

This half-day programme provides an overview of the MACC Act 2010 as well as an in-depth explanation of Section 17A. It also offers practical guidance on implementing Adequate Procedures incorporating compliance best practices and considerations. The programme also offers insights into identifying key corruption risk areas, managing an effective whistle-blowing channel, monitoring and enforcement. An effective compliance programme requires the inculcation of a culture of integrity and the programme will provide guidance in developing an ethical organizational culture.

• Understand the different types of bribery and corruption under the MACC Act 2010
• Understand how Section 17A Corporate Liability provision works and the defense available to companies by adopting Adequate Procedures
• Explain the elements of an effective compliance programme based on the TRUST Principles
• Undertake a Corruption Risk Assessment
• Appreciate the importance of an ethical organizational culture in supporting Adequate Procedures

Key contents

Module 1: Integrity and ethics in business

• Abuse of power
• Corruption
• MACC Act 2010

Module 2: Corporate liability

• Introduction to Section 17A
• Adequate procedure
• TRUST

Module 3: ISO 37001 ABMS

• Corruption risk management
• Anti-corruption plan strengthening strategy

Module 4: Ethical organization culture

• Challenges and obstacles
• The principle of continuous improvement