Corruption, as defined by Transparency International, is “the abuse of entrusted power for private gain. It can be classified as grand, petty and political, depending on the amounts of money lost and the sector where it occurs”.
Corruption can cause an erosion on public trust and on the legitimacy of both public and private institutions. Its effects can be catastrophic to a national economy, particularly at a time when open global markets can rapidly reverse capital and investment flows due to the compromise on trust and confidence in the economy.
The National Anti- Corruption Plan (NACP) was launched by our Prime Minister, Tun Dr Mahathir Bin Mohamed, on 29th January 2019. The Plan seeks to instil clear and strong principles of transparency, accountability and integrity as well as good governance to combat corruption that has eroded the wealth of this nation. The Plan is to create a corruption-free ecosystem for the future generations and to move the country into a developed nation.
In order to move towards a corruption free nation, organisations, both from the public and the private sectors, should be implementing clear strategies to achieve this common goal. One of the strategies should include embedding a Corruption Risk Management System within the Enterprise Risk Management system of the organisation.
This program seeks to assist all participants to first understand the need for such a strategy. In order to do so, this program will take you through a journey of seeking what your true purpose is and then align the values that you would like to maintain as a person, as a leader and as an organisation. From there, participants will delve into the nuts and bolts of creating a comprehensive Corruption Risk Management system, identifying corruption risks areas as well as the controls required to mitigate, eradicate or minimize both the impact and the probabilities of the risks occurring.
Participants will experience a guided methodology which is practical and usable immediately as they complete the 3-day program. Continuous support in the form of 3 coaching sessions will be carried out after the 3-day program to ensure that participants are able to oversee and maintain the Corruption Risk Management System implemented for their respective organisations. At a later stage, a skill assessment could also be conducted to facilitate the learning process and to ensure that the learning objectives set out are met. Participants could seek accreditation as well.
At the end of the program, participants will be able to:
- Discover the purpose and values they wish to uphold and instil as the culture in their lives, workplace and employees;
- Develop the necessary processes required for a CRM framework – CRM strategy and policy, corruption risk assessment process,
- Risk monitoring and reporting to the relevant Board Committee and ultimately to the Board;
- Develop risk contents that can provide management and the Board sufficient information to make informed decisions;
- Prepare the relevant corruption risk documentation – corruption risk map, risk summary, risk registers, risk action plans, risk monitoring and reporting.