Implementation of systematic, structured and effective policies to improve business integrity and develop corporate governance in Kazakhstan in accordance with OECD standards
Siemens has launched a global Siemens Integrity Initiative with more than 100 million US-Dollars which will support organizations that fight corruption and fraud through Collective Action, education and training.
Under this initiative Chamber of Legal consultants “Kazakhstan Bar Association in cooperation with Legal Policy Research Centre (LPRC) received 800,000 $ to implement project named “Implementation of a systematic, structured and effective policy of improving business integrity and developing corporate governance in Kazakhstan according to OECD standards”
This project aims to increase integrity and reduce corruption in the business sector of Kazakhstan through the introduction and development of standards of clean business and the compliance culture.
The Project activities are aimed at achieving 2 objectives of the project: (1) Creating an enabling favorable legal environment (amendments to the law) and implementation of international anti-corruption obligations (recommendations) through encouraging the Government of the Republic of Kazakhstan to implement international anti-corruption standards into the laws of Kazakhstan by amending certain provisions of its anti-corruption legislation; (2) Promoting international anticorruption standards and clean business (compliance) practices in corporate and academic circles.
Activities include introduction of amendments to legislation, and promoting implementation of the anti-corruption standards and the system of internal control, ethics and compliance in pilot industries. Furthermore, by virtue of the project training, both online and offline, including Summer School, for 1000 representatives of corporate sector, public administration, academia and students will be undertaken. It is expected that at least 10 universities will introduce updated courses for law school students with anti-corruption and compliance topics.
Owing to the project, it is expected that 40% of companies in piloted sectors will implement and actively use a complete and high-quality compliance system recommended by the project. The country’s largest commercial holdings and the National Chamber of Entrepreneurs will be involved in promoting compliance systems and will facilitate the widespread adoption of compliance practices in the commercial sector through the project.