“Compliance is a business element”, says IBP Legal and Compliance Manager
The stages of compliance for O&G industry should be integrated into corporative routine according to Maurício Bove, IBP Legal and Compliance Manager. In a brief interview, the executive highlighted the benefits of compliance for companies goes beyond a list of rules and guidelines and represents a deep transformation into business culture.
Check out bellow the full interview.
- The last day of Rio Oil & Gas 2018 was marked by the signing of the Integrity Pact of the Petroleum, Gas and Biofuels Industry. How to ensure this pact will gain more capillarity within the industry?
From the moment the signatory companies start to share this document and demand it from their suppliers and in addition to our efforts to promote the pact, it will spread rapidly. As the pact manager, it’s our duty communicate to our associated companies and for all O&G industry and receive applications, what many companies have already done. All the propaganda about this pact, about this initiative is positive.
- As a result of the Integrity Pact of the Petroleum, Gas and Biofuels Industry, IBP and the Ministry of Transparency joined efforts to develop a Guide to Good Practices on Corporate Integrity. What is this Guide?
It is a manual of basic requirements and good practices to guides and disseminates some concepts and actions related to compliance. We decide to bring IBP’s associated companies together in a committee to create a pact of integrity to avoid corruption and misconduct in its activities, by compiling their best practices. The guide, drafted collectively, describes what a company should do in compliance and contextualizes each practice, explaining why those measures are important. In this pact, companies are committed to adopt practices of corporate integrity in all their activities, demonstrating commitment to fight against corruption, for both society and government.
- What are the next steps for compliance in the O&G industry?
Compliance should be, gradually, integrated into business routines. Investment in the area has several advantages for companies, such as a significant increase in competitiveness; reducing the company’s exposure to risks related to compliance and misconduct; reduction of possible liabilities such as fines, restitution, operational failures; aggregates core values for business longevity, such as good reputation and transparency, generates new business opportunities, and improves corporate governance policy.
The image of a company is the most valuable good it possesses. Working with ethics and organization ensures the sustainability of a brand. All of this has led to a transformation of organizational culture. Compliance goes far from being just a set of rules and procedures. It’s a business attribute.