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Corporate Liability Provision (Section 17A) – Getting Corporate Malaysia Ready

In conjunction with the PLF-TI Awareness Training on MACC Act Section 17A on 28th October 2020, we are sharing an article written by Dr Muhammad Mohan, President of Transparency International Malaysia, on corporate liability, an excerpt is as follows:

What actions should companies take?
In view of the stiff penalties, company directors in particular should take the initiative to understand this new provision, provide sufficient oversight on the management of bribery and corruption risks within their organisation, and ensure that management implement appropriate adequate procedures.

They will have to be proactive in setting up policies and business codes of conduct, conducting training for employees and stakeholders to communicate these policies, as well as assessments to ensure these measures are effective. In fact, Directors should impress on the CEO and the top management on the gravity of this provision, requiring updates in this area as a standard agenda in all board meetings.

This is the best way to keep the management on their toes to monitor and curb any form of corruption in the commercial organisations. Overall, the organisation has to be proactive in setting up policies and business codes of conduct, conducting training for employees and stakeholders to communicate these policies, as well as assessments to ensure these measures are effective.”



Read the full article here.


For more information on the Awareness Training, click here or contact Ms Maizatul (03-88858965 / maizatul@perdana.org.my)

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