New Zealand's Ministry of Foreign Affairs and Trade has published guidelines for combating bribery and corruption in offshore markets.
The Ministry advises companies planning to enter a new market, or which are reviewing operating strategy in an existing market, to take a number steps to reduce their exposure to and impacts from corruption.
These include:
- Having a clear policy against bribery;
- Conducting due diligence of possible or existing partners/agents;
- Having procedures for dealing with corrupt situations that encourage disclosure; and
- Maintaining regular internal audit of procedures and how they are working.