Sustainable Business Practices

Anti-Bribery and Anti-Corruption

Introduction and Purpose

Lavan has a well established reputation for conducting business in an ethical and honest way.

Individually, and as a firm, we value, promote and maintain the highest levels of integrity, ethical behaviour and accountability.

Lavan has a zero tolerance approach to bribery and corruption.  The firm is comitted to conduct all business in an honest and ethical manner.

Lavan is committed to:

• Upholding and abiding by applicable bribery and corruption laws.
• Not offering or paying bribes of facilitation payments, or condoning the offering of bribes or facilitation payments, so as to gain a business advantage.
• Not accepting bribes, or agreeing to bribes being accepted in order to influence business.
• Ensuring that all partners and staff members accept and understand the firm’s sustainable business practice.
• Avoiding doing business with others who do not accept Lavan's sustainable business practice and who may harm the firm’s reputation or expose it to legal liability.
• Monitoring and auditing compliance with these principles on an ongoing basis.

Who is responsible for compliance with this sustainable business practice?

This sustainable business practice applies to all:

• Partners and staff at Lavan.
• Consultants, seconded staff, casual staff and staff members working from home.
• Any other person who acts for, or on behalf of, or represents Lavan.

Sustainable Business Practice

What are Bribery and Corruption?

Bribery is the most common form of corruption and can be broadly defined as offering, promising, giving, accepting or soliciting an advantage as an inducement or reward for an action which is illegal or a breach of trust.

Although many people think of bribery as involving giving someone cash, it can take many other forms including non-cash gifts, lavish entertainment or hospitality or even simply doing someone a favour.

Bribery takes place if:

• A person is provided with a gift, donation, discount, cash payment or other valuable incentive or a person is taken out for particularly lavish hospitality; and
• This was intended to induce or reward that person to behave improperly or not to perform their function correctly or in good faith.

It is important to remember that in most cases it will be irrelevant whether the bribe was accepted or not.  Merely offering the bribe will usually be sufficient for an offence to be committed.

Bribery can be direct (eg a person gives a bribe to someone) or indirect (eg a person procures someone else to give a bribe to another person).

Key risk areas for Bribery and Corruption

Gifts, Entertainment and Hospitality

Gifts, entertainment and hospitality include the receipt or offer of gifts, meals or tokens of appreciation and gratitude, or invitations to events, functions, or other social gatherings, in connection with matters related to our business.  These activities are acceptable provided they:

• Fall within reasonable bounds of value and occurrence.
• Do not influence, or are not perceived to influence, objective business judgement.
• Are not prohibited or limited by applicable laws or applicable industry codes.

Lavan partners and staff must not accept gifts or entertainment where to do so might influence, or be perceived to influence, objective business judgement.

This sustainable business practice does not prohibit giving normal and appropriate hospitality to, or receiving it from, third parties.

What is not acceptable?

Circumstances which are never permissible include examples that involve:

• A ‘quid pro quo’ (a benefit or advantage offered for something in return).
• Gifts in the form of cash or cash equivalent vouchers.
• Entertainment of a sexual or similarly inappropriate nature.
• Making incomplete, false or inaccurate entries in Lavan’s systems or records.

Approval Process

The acceptance of gifts and/or hospitality/entertainment invitations must be pre approved by the Managing Partner or your Supervising Partner or Manager.

Any breach of this sustainable business practice will be regarded as a serious matter by Lavan and will result in disciplinary action up to and including termination of employment or contract.