Third party due diligence and payments

Guidelines for Third Party Due Diligence

by admin | Feb 7, 2019 | Barrick Gold, North America, Third party due diligence and payments, Third party/agent due diligence

Under Barrick’s Anti-Corruption Standards, potential engagements (including contracts, purchase orders, and other arrangements) with all new and renewed Barrick third-party vendors, including suppliers and non-supplier vendors need to meet certain onboarding requirements. These Guidelines are designed to assist Barrick personnel in Legal, Contract Administration, Supply Chain, Finance and Accounting, and any other functional group that contracts with vendors, including suppliers, non-supplier vendors and their relevant subcontractors. These Guidelines are consistent with all Barrick anti-corruption related policies, standards, procedures and guidelines which are applicable to every office and site where Barrick Gold Corporation exercises operational control.

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Anti-Corruption Due Diligence for Mergers and Acquisition (M&A) and Joint Ventures

by admin | Feb 7, 2019 | Barrick Gold, North America, Third party due diligence and payments, Third party/agent due diligence

Numerous corruption-related investigations and prosecutions have occurred in connection with acquisitions of assets (M&A) and joint ventures, particularly in countries where the risks of corruption are considered high. Corruption risks also can occur in the context of asset dispositions. This Guideline is designed to assist the Barrick Gold’s legal personnel in conducting anti-corruption due diligence in connection with asset acquisitions (M&A), joint ventures, and asset dispositions.

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Invoice Red Flag Manual

by admin | Jan 31, 2019 | Barrick Gold, North America, Third party due diligence and payments, Third party/agent due diligence

This manual is intended to provide background and guidance surrounding anti-corruption red flags, to help ensure that payments to third parties who interface with the government on Barrick ’s behalf, and to the government itself, are made in a manner consistent with applicable anti-corruption laws and company policies. Generally, an invoice red flag is an out-of-the-ordinary, or suspicious fact or detail about the size of the payment, the recipient, the service provider. When a red flag is present there is an affirmative legal obligation to follow up and obtain a reasonable explanation.

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Web-based Search Guide

by admin | Jan 23, 2019 | Barrick Gold, North America, Third party due diligence and payments, Third party/agent due diligence

What international guidelines should your consider as part of a comprehensive anti-bribery compliance program? This complimentary resource offers insights into the full range of guidelines along with practical recommendations for implementing an effective program.

Download the Anti-Corruption Compliance Guidelines to learn:

The categories of an effective anti-corruption compliance program
Example references for policies, procedures and records, risk assessment, training, management of supply chain and business partners, and other process categories

Visit the Barrick Gold website.

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ORGANIZATION: TRACE International

by admin | Mar 21, 2018 | ABC terms library, Agriculture, Anti-bribery/corruption contract terms, Anti-Corruption Organizations, Resources and References, Arms, defence & military, Banking & finance, Bribery risk assessment, Civilian aerospace, Code of Conduct and policies and procedures, Compliance function, Consumer services, Financial controls, Fisheries, Forestry, Heavy manufacturing, Information technology, IT tools that support compliance function, Leadership and governance, Light manufacturing, M&A, joint venture, business associate due diligence, Mining, North America, Oil and gas, Pharmaceutical & health care, Power generation & transmission, Public works & Construction, Real estate, property, legal and business services, Risk assessments, Risk-based assessment and due diligence process, Risk-based training, Structuring an Anti-Corruption compliance program, Telecommunications, Third party due diligence and payments, Tone from the top, Training, Transportation & storage, Utilities

TRACE is a globally recognized anti-bribery business association and leading provider of shared-cost third party risk management solutions. Members and clients include over 500 multinational companies located worldwide. TRACE is headquartered in the United States and registered in Canada, with a presence on five continents. For more information, visit www.TRACEinternational.org.

TRACE International is a highly respected organization that provides a wealth of information and tools for public and private organizations. From its TRACE country profile Matrix and training offerings to its due diligence services and insightful articles, TRACE International is an important international player and advocate for Anti-Corruption measures.

A COMMON MISSION
TRACE is comprised of two distinct entities – TRACE International and TRACE Incorporated – that share a common mission to advance commercial transparency worldwide.

TRACE INTERNATIONAL is funded by its members and does not accept any funding from any government. It leverages a shared-cost model whereby membership dues are pooled to develop anti-bribery compliance tools, services and resources.

TRACE INCORPORATED
TRACE Incorporated is a leading provider of third party risk management solutions.

Founded in 2007 to meet compliance demands that did not fall within the scope of the shared-cost membership model, TRACE Inc. provides both members and non-members with customizable risk-based due diligence and has conducted over 500,000 due diligence reviews worldwide.

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ORGANIZATION: Transparency International

by admin | Mar 21, 2018 | ABC terms library, Accountability and transparency, Agriculture, Anti-Corruption Organizations, Resources and References, Arms, defence & military, Banking & finance, Bribery risk assessment, Civilian aerospace, Code of Conduct and policies and procedures, Compliance function, Consumer services, Continuous improvements, Continuous learning and applying lessons learned, Controls, Financial controls, Financial controls, Fisheries, Forestry, Heavy manufacturing, Information technology, Leadership and governance, Light manufacturing, M&A, joint venture, business associate due diligence, Mining, Oil and gas, Pharmaceutical & health care, Power generation & transmission, Public works & Construction, Reaching and engaging all employees, Real estate, property, legal and business services, Risk assessments, Risk-based assessment and due diligence process, Structuring an Anti-Corruption compliance program, Telecommunications, Third party due diligence and payments, Third party/agent due diligence, Training, Transportation & storage, Utilities, Western Europe

Transparency International (TI) is the global civil society organization leading the fight against corruption. It brings people together in a powerful worldwide coalition to end the devastating impact of corruption on men, women and children around the world. TI’s mission is to create change towards a world free of corruption. TI publishes the annual TI Corruption Perception Index and many other reports and publication to help public and private organizations address corruption-related issues.

Transparency International has chapters in over 100 countries and plays an important global role in advocating for pro-active action against corruption in public and private organizations. TI and its various chapters provide valuable tools, best practices and strategies to address corruption related issues.

From villages in rural India to the corridors of power in Brussels, Transparency International gives voice to the victims and witnesses of corruption. We work together with governments, businesses and citizens to stop the abuse of power, bribery and secret deals.

As a global movement with one vision, we want a world free of corruption. Through chapters in more than 100 countries and an international secretariat in Berlin, we are leading the fight against corruption to turn this vision into reality.

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