The Basel Institute on Governance and the Thai Institute of Directors (IOD), in conjunction with the Thai Private Sector Collective Action Against Corruption (Thai CAC), have today signed a Memorandum of Understanding to jointly support the promotion of anti-corruption compliance.

The agreement covers the launch of a pilot project that aims to encourage the local certification of anti-corruption compliance programmes in SMEs, while alleviating the due diligence burden on multi-national companies.

Local certification is emerging as an interesting way for large companies and their supply chains to help address compliance and due diligence issues that can be a barrier to business. A recent Basel Institute working paper showed how local certification programmes developed with a Collective Action approach can help: