SMEs urged to strengthen corporate ethics in tough times
2009-9-9
Business leaders of small and medium enterprises were urged to uphold integrity and strengthen corporate governance despite difficult economic times.
Speaking at the Independent Commission Against Corruption’s “ Business Ethics Conference cum Pledging Ceremony for Small and Medium Enterprises ” today (Wednesday), ICAC Commissioner Dr Timothy Tong Hin-ming said the ICAC took tough actions against those who resorted to bribery and illegal practice in conducting business.
“A total of 417 persons have been prosecuted for business sector corruption and related fraud cases from January 2008 to August this year,” he revealed.
“Integrity is not only a moral virtue. For businesses, it is a quality which defines who can survive and thrive especially in times of economic downturns,” the Commissioner stressed.
Dr Tong highlighted the importance of cross-boundary and cross-sector cooperation in enhancing a clean business environment in view of the growingly integrated development of the pan Pearl River Delta region.
Meanwhile, the Commissioner also noted that the United Kingdom was considering introducing a new corporate offence which would oblige corporations to state clearly their policies on corruption to their overseas subsidiaries.
He believed that this new legislation was a reflection of corporate ethics having gained global concern.
Leaders from some 50 organisations representing over 30,000 local SMEs took part in a pledging ceremony officiated by Permanent Secretary for Commerce and Economic Development, Miss Yvonne Choi Ying-pik, to register their commitment to uphold ethical busi ness practice.
Also officiating at the ceremony were Legislative Councillors Mr Albert Ho Chun-yan, Mr Andrew Leung Kwan-yuen, Mr Ronny Tong Ka-wah and Mr Ip Kwok-him.
Speaking after the ceremony, the Commissioner noted that the corruption situation in Hong Kong remained stable and well under control.
“The ICAC received 2,180 corruption reports in the first eight months this year, a three percent drop against the same period last year,” said Dr Tong.
He attributed the stable corruption situation to sustained preventive and education efforts and an improved economy.
“Of these complaints, 1,388 were related to the private sector, 666 concerned government departments and 126 were against public bodies,” he said.
Over 220 SME operators today attended the ICAC conference which featured the Hong Kong Association of Banks Chairman, Mr Peter Wong Tung-shun, and Jinan University Economics College Professor, Miss Feng Xiaoyun, as keynote speakers.
Also attending the conference were delegations from the Guangdong Provincial Government’s Hong Kong and Macao Affairs Office (HKMAO), Guangdong Provincial People’s Procuratorate (GDPP) and the Macao Commission Against Corruption.
The Director General of Guangdong’s HKMAO, Mr Tang Hao, gave a speech on policies and initiatives adopted by the province to render assistance to Hong Kong enterprises in respect of their investments and business development initiatives.
Other panel speakers at the conference included GDPP’s Deputy Chief Procurator, Mr Zheng Xinjian, ICAC Citizen Advisory Committee on Community Relations Chairman, Dr Moses Cheng Mo-chi, Hong Kong
Institute of Human Resource Management’s Council Member, Mr Alan Tin Wai-keung, leading local SME entrepreneur Dr Lewis Luk Tei and accounting consultant Mr Albert Au Siu-cheung.
ICAC’s Acting Director of Corruption Prevention, Mrs Jean Au Yeung Lui Mui-kwan, introduced the participants to the newly launched guidebook “A Best Practice Checklist for SMEs on Governance and Internal Control ” covering major business areas such as procurement, sales, inventory control and staff administration.
Speaking at the Independent Commission Against Corruption’s “ Business Ethics Conference cum Pledging Ceremony for Small and Medium Enterprises ” today (Wednesday), ICAC Commissioner Dr Timothy Tong Hin-ming said the ICAC took tough actions against those who resorted to bribery and illegal practice in conducting business.
“A total of 417 persons have been prosecuted for business sector corruption and related fraud cases from January 2008 to August this year,” he revealed.
“Integrity is not only a moral virtue. For businesses, it is a quality which defines who can survive and thrive especially in times of economic downturns,” the Commissioner stressed.
Dr Tong highlighted the importance of cross-boundary and cross-sector cooperation in enhancing a clean business environment in view of the growingly integrated development of the pan Pearl River Delta region.
Meanwhile, the Commissioner also noted that the United Kingdom was considering introducing a new corporate offence which would oblige corporations to state clearly their policies on corruption to their overseas subsidiaries.
He believed that this new legislation was a reflection of corporate ethics having gained global concern.
Leaders from some 50 organisations representing over 30,000 local SMEs took part in a pledging ceremony officiated by Permanent Secretary for Commerce and Economic Development, Miss Yvonne Choi Ying-pik, to register their commitment to uphold ethical busi ness practice.
Also officiating at the ceremony were Legislative Councillors Mr Albert Ho Chun-yan, Mr Andrew Leung Kwan-yuen, Mr Ronny Tong Ka-wah and Mr Ip Kwok-him.
Speaking after the ceremony, the Commissioner noted that the corruption situation in Hong Kong remained stable and well under control.
“The ICAC received 2,180 corruption reports in the first eight months this year, a three percent drop against the same period last year,” said Dr Tong.
He attributed the stable corruption situation to sustained preventive and education efforts and an improved economy.
“Of these complaints, 1,388 were related to the private sector, 666 concerned government departments and 126 were against public bodies,” he said.
Over 220 SME operators today attended the ICAC conference which featured the Hong Kong Association of Banks Chairman, Mr Peter Wong Tung-shun, and Jinan University Economics College Professor, Miss Feng Xiaoyun, as keynote speakers.
Also attending the conference were delegations from the Guangdong Provincial Government’s Hong Kong and Macao Affairs Office (HKMAO), Guangdong Provincial People’s Procuratorate (GDPP) and the Macao Commission Against Corruption.
The Director General of Guangdong’s HKMAO, Mr Tang Hao, gave a speech on policies and initiatives adopted by the province to render assistance to Hong Kong enterprises in respect of their investments and business development initiatives.
Other panel speakers at the conference included GDPP’s Deputy Chief Procurator, Mr Zheng Xinjian, ICAC Citizen Advisory Committee on Community Relations Chairman, Dr Moses Cheng Mo-chi, Hong Kong
Institute of Human Resource Management’s Council Member, Mr Alan Tin Wai-keung, leading local SME entrepreneur Dr Lewis Luk Tei and accounting consultant Mr Albert Au Siu-cheung.
ICAC’s Acting Director of Corruption Prevention, Mrs Jean Au Yeung Lui Mui-kwan, introduced the participants to the newly launched guidebook “A Best Practice Checklist for SMEs on Governance and Internal Control ” covering major business areas such as procurement, sales, inventory control and staff administration.