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SBAC yesterday (4 October 07) joined other European Aerospace and Defence associations in committing to promoting business ethics and a common approach to anti-corruption measures.
The development of the Common Industry Standards by the Aerospace and Defence Industries Association of Europe (ASD), in which SBAC played an active role, will promote best practice and re-affirm the industry's commitment to a market place free of corrupt activities.
Ian Godden, SBAC Chief Executive said:
“UK
The objectives of the Common Industry Standards are:
- to promote the prevention of corruption in the international defence market;
- to encourage the adoption of corporate policies and practices which are intended to achieve compliance with applicable laws;
- to share good practice and available documentation / information amongst members;
- to gain acceptance by external stakeholders of the intent and effort of the members in their efforts to prevent corruption in the international defence market.
The Standards require all associations to comply with the laws and regulations of the countries or territories from which they work. This includes:
- the prohibition of corrupt practices, such as the offering, promising or receiving of bribes – be it to public or private individuals/co-operation;
- gifts and offers of hospitality, which must not be done with a view to obtaining improper advantage. They must also be accountable and traceable in the books and records of the giver;
- political donations and contributions – these must be treated in a similar way as gifts and offers of hospitality;
- the responsible management of agents, consultants and intermediaries, which will require companies to perform a thorough due diligence examination for all candidates, and will require renewal on a regular basis.
 SBAC signs the ASD anti-corruption standard
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