ETHICS watchdog TRACE International has awarded full compliance certification to AESSEAL South Africa.
The mechanical seals company is among the first South African engineering organisations to meet TRACE International’s stringent code of ethics.
Certification is likely to serve AESSEAL well during competitive sales situations, reinforcing the company’s product offering by guaranteeing transparency and freedom from corruption.
TRACE International is an internationally recognised association that works to raise the anti-bribery compliance standards of members.
Founded to achieve economies of scale and set a common standard for due diligence reviews and anti-bribery training, the organisation provides a practical and cost-effective alternative to increasingly expensive and time consuming corporate compliance.
New member AESSEAL joins an exclusive club of some 220 companies worldwide certified by TRACE as adhering to a strict code of corruption-free conduct. Compliance certification applies uniquely to the South African subsidiary of the British multinational, and followed a four-month process of comprehensive background checks undertaken on all key employees driving growth.
Detailed curricula vitae on all directors, shareholders and sales staff were submitted and scrutinised by internet search engine cross-checks seeking evidence of susceptibility to corruption through positional power, multiple directorships or political dynamics created during previous employment or gaps in employment.
Questions arising from the checks were submitted to AESSEAL for clarification, after which further checking processes took place.
AESSEAL’s TRACE certificate was awarded in June 2013.