This report presents background information to participants of the OECD Russia Corporate Governance Roundtable organised for the 19th November 14 in Moscow, Russian Federation.

The report addresses the issue of related party transactions on an international scale and in Russia. It outlines the international context in which related party transactions are regulated across jurisdictions.

This report helps investors who wish to see meaningful progress in their engagements as well as companies that want to stay ahead of the curve to manage and minimize risks associated with bribery and corruption.

The guide is based on insights from data collected from investors by the Principles for Responsible Investment, as well as a series of interviews with investors and feedback from companies collected by the UN Global Compact.

Why do companies need Integrity Pacts?

It’s all too common for companies to encounter corruption during public procurement processes. The Organisation for Economic Co-operation and Development (OECD) Foreign Bribery Report states that 57 per cent of foreign bribery cases which it assessed related to public procurement.In the EU alone, corrupt bidding processes have increased annual contract costs by US$5 billion. The effects can be disastrous, including exposing companies to serious risks, such as:

Together against Corruption provides the strategic framework for Transparency International’s (TI) collective ambition and actions for the years 2016-2020. The movement’s fourth strategy, it builds on the rich diversity of the TI movement, with its unique governance structure that includes independent national chapters, individual members and an international secretariat.

Recognising the local realities in which TI operates, this strategy does not intend to cover everything we do. Rather, it focuses on the key areas in which TI seeks to move forward collectively.

The OECD Foreign Bribery Report brings us, for the first time, face to face with our foe. This report endeavours to measure, and to describe, transnational corruption based on data from the 427 foreign bribery cases that have been concluded since the entry into force of the OECD Anti-Bribery Convention in 1999. We have learned that bribes are being paid across sectors to officials from countries at all stages of economic development.