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Business

UK Bribery act and what it means for CIMA members and businesses worldwide? Logo cima

  Free |   CIMA |   2010 |   Thought leadership

CIMA members and students worldwide have a responsibility to be fully aware of the implications of the UK Bribery Act, its main requirements and what the law will mean in practice for CIMA members working for UK businesses and their subsidiaries overseas. On 25 March 2009, UK Secretary of State for Justice Jack Straw announced a new Bribery Act. The Act received Royal Assent on 8 April and will become law – coming into effect in stages between June and October 2010. The new law will have wide implications for the UK industry and for accounting professionals worldwide.

Topics covered:
  • Management accounting: Business: Market & regulatory environment, Foundational

4 Comments/Reflections

Eoin Campbell

Eoin Campbell Feb 2021

This is a very concise but clear explanation of what is covered by the 2010 UK Bribery Act and the implications for organisations, their employees and anyone connected with the organisation directly or indirectly.

This can be a difficult area for accountants who may well find themselves in the front line in ensuring systems are in place to ensure compliance.
Bipin Hathi

Bipin Hathi Jun 2018

interest read to see what offenses are for bribery, how this impacts on COMA members and an action plan to deal with it. Very useful.
Tatenda Muranda

Tatenda Muranda Nov 2015

Industries in Zimbabwe have been affected by corruption in the supply chain, which has led to a negative effect on shareholders value. This as a result has led to the economy of the country not improving. Financial personnel in our economy should be able to assist companies they work in especially top management. Top management if committed would be able to combat these corruption levels.

This can be achieved by putting inplace anti bribery policies,communication and training to the rest of the organisation on benefits of reducing corruption in the organisation. This would be ensured by effective monitoring and evaluation for it to be effective

Tatenda Muranda

Tatenda Muranda Nov 2015

Industries in Zimbabwe have been affected by corruption in the supply chain, which has led to a negative effect on shareholders value. This as a result has led to the economy of the country not improving. Financial personnel in our economy should be able to assist companies they work in especially top management. Top management if committed would be able to combat these corruption levels.

This can be achieved by putting inplace anti bribery policies,communication and training to the rest of the organisation on benefits of reducing corruption in the organisation. This would be ensured by effective monitoring and evaluation for it to be effective