Integrity and Compliance

Why an Integrity Program?

The business world moves forwards the implementation of actions to detect and address bribery by adopting anti-bribery policies.

In Argentina rules the Nº 27.401 Act of Criminal Responsibility for Companies.  This Act, set up that legal persons are responsible for bribery.

Besides, companies must address and adopt an Integrity Program that includes internal  the promotion of ethical and integrity behaviour. Mechanisms for detect and prevent bribery. Sanctions for the responsibility may go from a penalty fee, up to 10 years of total suspension of activities.

Challenges for companies

This Act has many challenges for companies that generally speaking  shows vulnerabilities in:

  1. Absence of risk management.
  2. Inadequate resolution of conflict of interests
  3. Lack of training.
  4. Lack of accountability mechanisms.

To have an Integrity Plan is and advantage for companies because:

  • Improves the company reputation towards its clients, investors and competitors.
  • Contributes to firm growth and productivity.
  • Will give access to local and international investment.
  • Improves the quality of its human resources. Makes the firm a better place to work.
  • Is a positive impact on product innovation.

Towards an Integrity Program (PRI)

The Company should implement and Integrity Program that:

  • Is supported by high management.
  • Is adequate to the core business and risks of the activity
  • Is adequate to the scope and economic capacity of the company.

The PRI is a management model focused on transparency and ethics. Together with the business core it should asses international standards and be accountable.

As a result of the STKconsultants© metodology of work, is expected that the company has:

  • A risk map.
  • An Integrity Program designed with international standards and national laws.
  • Internal investigation procedures, and protection for whistleblowers.
  • An Ethical Code of Conduct with guidelines and due diligence in projects.
  • Implements financial and commercial controls and investigation.
  • A Training Program.
  • An evaluation and monitoring strategy.