This project was established with the aim of creating awareness in the private sector in Thailand of the risks of corruption and to reduce the likelihood of companies engaging in corruption. It stresses the need to implement policies and effective mechanisms to prevent corruption at firm and industry levels.
Companies participating in this initiative pledge to disclose and share their internal policies and experiences to help disseminate and promote best practices.
- The first component of this process is a self-evaluation.
- An external audit is then required that verifies the company’s self-evaluation.
- The Institute of Directors (IOD) also conducts a public records check on the company.
- The final step is approval by the Collective Action Certification Committee. This 12 member council consists of former business executives and high-level government officials, and it meets quarterly.
The most difficult and demanding component of this process is the external verification. This activity coincides with a company’s annual external audit, required of all stock-based corporations (no matter how small). The results of this verification are contained in an annex to the company’s annual audit.
Last updated: 03.10.2020
This information is gathered from open-source data and in some cases has been provided by initiative facilitators. We cannot guarantee the accuracy or completeness of the information and do not take responsibility for decisions made on the basis of it. Please inform us of any errors by emailing us at the contact details on the main database page.