The PRECCA Act (Prevention and Combatting of Corrupt Activities) is a crucial piece of legislation in South Africa’s war on corruption. It is important to know that being aware of criminal activity but not acting is now a criminal offence. Effective and engaging employee communications is required.
PRECCA may seem burdensome for some, but see your company as a prickly pear with flavourful fruit and showy flowers, with spiky parts to encourage action against fraud and corruption which can hurt your company.
“Employees must be educated about PRECCA and its implications. Effective communications to employers not only put them in a position to avoid prosecution but it also lifts awareness in a company and creates a first line of defence against fraud and corruption”, says Nico de Kock, MD of MUBESKO AFRICA.
Nico warns that PRECCA communication should not be a one-off tick box exercise.
“People tend to equate corruption with the public sector but is endemic in the private sector as well. The PRECCA Act provides a golden opportunity for companies to step up their efforts on preventing corruption and fraud.”
An important aspect of embedding a culture of compliance and heightened awareness is communicating the company’s whistle blow policy, allowing employees to enact the requirements of PRECCA with fear of being victimised.
Nico de Kock
MD Mubesko Africa
nico@mubesko.co.za
mubesko.co.za
MUBESKO AFRICA is a well-established consulting company which offers Financial and Management Support, Asset Accounting, and Forensic Examination services to the public and private sectors.