This Practice Note:
The Natural Resource Governance Institute (NRGI) has launched tailored guidance on measures that companies in the oil, gas and mining sectors can adopt to reduce corruption risks when partnering with state-owned enterprises (SOEs).
Broadly, “internal controls” refers to systems of policies, procedures and practices to prevent, detect and respond to issues, errors and irregularities.
Systems of internal control can be very effective in addressing corrupt conduct, which is the focus of this quick guide. But internal controls can also address other problems that affect an organisation’s efficiency and effectiveness, such as poor employee performance or the failure to accomplish important organisational goals.