"Starting-Up Right!" Tips for achieving Business Excellence

A worried partner of a start-up: I just found out our main supplier is the brother of my partner Tony! I went through the invoices… Some of them look faked…

Start-up Mentor: First, Tony should have declared this conflict of interests situation to the company. Besides, Using false document to deceive the companymay constitute a deception or even a corruption offence.

Top 3 Corruption Loopholes in Procurement

Hong Kong Business Ethics Development Centre provides corruption prevention advice to your company on how to plug corruption loopholes and build in effective control measures.

Enquiry Hotline: (852) 2826 3288

#1: Fund Seeking

#2: License Application

#3: Procurement

#4: Proprietary Information

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Prevention of Bribery Ordinance

Using false document to deceive the company (Section 9(3))

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Conflict of interests:
Is there a mechanism in place to require declaration of conflict of interests?

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Unclear policy on kickbacks:
Does your company have a code of conduct including a policy on the acceptance of commissions for your staff?

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Insufficient checks and balances:
Are there adequate independent checks and balances on the procurement procedures, e.g. conducting random checks, compiling management reports to detect irregularities, etc.?

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