A strong set of internal controls
The group directives provide specific guidelines for the practical application of the ABB Code of Conduct into our day-to-day activities. With a strong set of internal controls and a clear picture of what is expected of our ABB community, we strive to create a culture of integrity reflected in our behavior.
Our group directives reinforce the following areas:
- Bribery and corruption is prohibited in all business dealings, whether with public officials or private sector business partners. As a rule, facilitation payments are not permitted.
- Substance-based due diligence is mandatory prior to the appointment of ABB representatives, such as intermediaries and third party agents. Centralized and transparent approval processes with appropriate controls over performance, is mandatory prior to any remuneration payments.
- Political and charitable contributions are subject to detailed internal policy and controls
- The gifts, entertainment and expenses policy defines thresholds, approval processes and their documentation, with additional controls for public officials.
- Agreements with subcontractors and consortium partners are aligned with ABB’s commitment to integrity in the performance of the contract, including commitments not to violate anti-bribery laws. Suppliers must also maintain integrity standards which are satisfactory to ABB and agree to the ABB Supplier Code of Conduct.
- Compliance due diligence is mandatory for any acquisition target or joint venture. Thorough integration strategies are implemented.