Anti-Corruption Certification

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Glossary of terms used on this site

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Term Definition
Civil society

The aggregate of non-governmental organizations and institutions that manifests the interests and the will of the citizens. Civil society includes the family and the private sphere, referred to as the third sector of society, distinct from government and business

Clientelism

An unequal system of exchanging resources and favors based on an exploitative relationship between a wealthier and/or more powerful ‘patron’ and a less wealthy and weaker ‘client’

Code of conduct

A set of values, rules and processes written for the employees of an organization to inform them of the organization’s expectations vis-à-vis their behavior

Collusion

An agreement between two or more parties, sometimes illegal, but always secretive, to limit open competition by deceiving, misleading, or defrauding others of their legal rights, or to obtain an objective forbidden by law typically by defrauding or gaining an unfair market advantage

Compliance

Conforming with stated requirements. At an organizational level, it is achieved through management processes which identify the applicable requirements (defined for example in laws, regulations, contracts, strategies and policies), assess the state of compliance, assess the risks and potential costs of non-compliance against the projected expenses to achieve compliance, and hence prioritize, fund and initiate any corrective actions deemed necessary

Conflict of interest

A situation in which the concerns or aims of two different parties are incompatible. A situation in which a person is able to derive personal benefit from actions or decisions made in their official capacity

Consortium

An association of two or more individuals, companies, organizations or governments with the objective of participating in a common activity or pooling their resources for achieving a common goal

Corporate governance

Consists of the set of processes, customs, policies, laws and institutions affecting the way people direct, administer or control a corporation. Corporate governance also includes the relationships among the many players involved (the stakeholders) and the corporate goals. The principal players include the shareholders, management, and the board of directors. Other stakeholders include employees, suppliers, customers, banks and other lenders, regulators, the environment and the community at large

Corruption

Dishonest or fraudulent conduct, typically involving bribery. It is the abuse of entrusted power for private gain. It can be classified as grand, petty and political depending on the amounts of money involved and the sector where it occurs