KMG implements advanced compliance standards
9 December is an International Anti-Corruption Day. This year is also marked by the 20th anniversary of the adoption of the UN Convention against Corruption.
In KazMunayGas, Compliance responsible for implementation of global corporate governance practices and relevant policies in the company is in charge of anti-corruption activities.
Compliance conducts due diligence of the company's counterparties to meet the standards of ethics and fair business conduct. This helps to avoid contracts with unreliable partners, mitigate the risks of non-delivery of goods, non-performance of work or failure to render services.
Candidates for managerial and administrative vacancies in KMG are also checked. One of the conditions for employment is now psychological and polygraph (lie detector) test for applicants, who would be engaged in procurement procedures.
Another important direction of Compliance activities is internal analysis of corruption risks. Its results show the reasons and conditions of corruption offenses as well as shortcomings in the company's business processes.
In order to create an effective conflict of interest management system, a universal declaration of conflicts of interest for all employees of KazMunayGas Group was introduced since 2020.
In the interests of the rights of employees, an online reporting system was launched, which can be used to inform of all illegal acts on the part of both employees and third parties. Each employee or third party, in case they doubt about the lawfulness of the other employees' actions, counterparties or other persons, who cooperate with KMG and its subsidiaries, can report this to the company's management, his/her immediate supervisor or Compliance. This can be done through the Hotline, which contacts are available on the corporate website of KazMunayGas and on the websites of its subsidiaries.
To raise awareness among employees of KazMunayGas and compliance services, compliance officers of KMG Group regularly hold meetings and seminars on anti-corruption laws, including with the participation of representatives of the Anti-Corruption Service.