Keeping appropriate registers for audit purposes can be a major challenge.
This is particularly true in areas such as gifts and hospitality or conflicts of interest where any number of employees or business partners are expected to record significant amounts of data.
Cerico has developed a number of easy-to-use online registers to automate that process, saving time and increasing consistency of information.
Gifts and hospitality
Giving or receiving gifts and hospitality is an integral part of commercial culture in many jurisdictions, but it can also carry risk.
Increasingly assertive enforcement of anti-bribery legislation means organisations are required to keep adequate and accessible records. They have to demonstrate they take a proportionate approach to hosting and receiving corporate hospitality and gifts, irrespective of geography. This can be particularly challenging for global organisations operating in markets where historic practice or local norms present particular compliance risks.
The Cerico Gifts and Corporate Hospitality Register, which can be accessed online and via a SmartPhone app, makes life simpler. It is quick and easy for staff and business partners to record details of gifts given and received. It also includes an inbuilt authorisation workflow. This enables managers or directors to explicitly approve giving and receiving gifts over a threshold determined by your organisation. The benefits of this product are:
- You have an audit trail at your fingertips of gifts and hospitality given and received by employees in your organisation. It includes confirmation of whether appropriate approvals were obtained
- The data can be analysed to detect unusual or suspicious patterns of activity
- A comprehensive overview of gifts and hospitality across your business, your supply chain and agents acting on your organisation's behalf