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Corporate Compliance Officer Roles in Bosnia and Herzegovina Face Challenges in Fight Against Corruption

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Introduction

Sarajevo, Bosnia and Herzegovina - September 23, 2019

The role of corporate compliance officers in Bosnia and Herzegovina is becoming increasingly important as the country struggles to combat corruption. Despite progress in some areas, the country’s Corruption Perception Index (CPI) score remains stagnant at 36, ranking it 85th out of 180 countries.

Challenges in Implementing Anti-Corruption Measures

Private enterprises with strong international ties are spearheading internal anti-corruption efforts, with comprehensive programs in place to prevent corruptive activities. These programs are often part of the Legal, Compliance, and Security domains within organizations. However, challenges persist in implementing effective anti-corruption measures.

  • The GRECO report on Bosnia and Herzegovina highlights slow or stalled reforms on all levels, including in the private sector.
  • Recommendations regarding corruption prevention have not been implemented, while the legal framework remains inconsistent.
  • Corruption and unethical behavior are significant challenges facing private enterprises, emphasizing the need for a robust anti-corruption framework.

Need for a Robust Anti-Corruption Framework

The International Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (OECD Anti-Bribery Convention) is seen as a key basis for developing such frameworks. To address these challenges, wider implementation of the ISO 37001 standard (anti-bribery management systems - requirements with guidance for use) is considered a possible remedy.

Efforts to Promote Systemic Anti-Corruption Approaches

Continuous efforts to promote systemic anti-corruption approaches mainly reside with NGOs, which have been working tirelessly to advance transparency and accountability in public institutions. Three new anti-corruption EU projects worth approximately 3.5 million EUR were announced in 2019, with Transparency International heading the “EU Support Against Corruption in Bosnia and Herzegovina” project.

Importance of Corporate Compliance Officers

The role of corporate compliance officers is crucial in preventing corruption and promoting a culture of integrity within organizations. However, their mandate expansion remains necessary to effectively combat corruption in Bosnia and Herzegovina. The Government and NGOs must work together to address differences in legislation, purviews, and implementation of anti-corruption measures.

Strategic Objectives for the Fight Against Corruption

Strategic objectives for the fight against corruption include:

  • Establishing and strengthening institutional capacities
  • Improving the normative framework
  • Promoting preventive anti-corruption activities
  • Enhancing judicial institutions’ effectiveness
  • Raising public awareness
  • Establishing efficient mechanisms for coordination and monitoring

Conclusion

In conclusion, the role of corporate compliance officers in Bosnia and Herzegovina is critical in combating corruption. However, challenges persist, and a concerted effort from all stakeholders is necessary to effectively address these issues and promote a culture of integrity within organizations.

Contact: lgutic@ti-bih.org or loris.gutic@gmail.com for more information.