Last updated: 15/05/2014
We are committed to maintaining the highest standards of ethics and integrity in the way we do business around the world.
Wherever we operate we abide by the law. Bribery and corruption is illegal in all the countries in which we operate and any person breaking these laws can be prosecuted. Any act of fraud, bribery or corruption is treated seriously by Tesco. We expect our business partners to adopt the same approach.
Tesco was named the top retailer by Transparency International, The Global Coalition Against Corruption in their report, Transparency in Corporate Reporting 2012. Rankings were calculated based on an analysis of each company’s:
- Reporting on anti-corruption programmes;
- Organisational transparency; and
- Country-by-country reporting.
The CEO with the Head of Legal in each business is responsible for ensuring that we comply with all local legislation and company policies and reporting adherence to the Tesco Group Executive Committee and the Group Compliance Committee.
All CEOs within the Tesco Group and leadership team members have been trained in recognising and understanding potential bribery and corruption risks. They are responsible for maintaining a register of potential risks, which are reviewed periodically by local senior management, Group Internal Audit, the Group Compliance Committee and the Group Executive Committee.
Once risks have been identified, they are assessed to determine their probability and their potential impact. Where net risks remain high, further next steps are taken e.g. due diligence is carried out to manage the risk.
Everyone in the business must comply with our Code of Business Conduct. The Code includes individual responsibilities and obligations related to fraud, bribery and corruption.
Any contracts with third parties require, as a minimum, compliance with our anti-corruption policy.
Raising awareness throughout the business
Our Group Chief Executive has communicated with all of our local CEOs and the local CEOs have sent a message to appropriate colleagues reminding them of our values and zero tolerance approach to all forms of bribery and corruption. The policies are available on our intranet site.
We use an e-learning solution to support with anti-bribery training, refresher and assessments, this also includes the new UK Bribery Act and our policy. The tool is available in all of the principal languages used in the countries in which we operate and refresher training will be carried out annually.
Reporting and investigation
Everyone at Tesco is responsible for the prevention, detection and reporting of any concerns in relation to bribery and corruption. Concerns about suspicions can be reported in confidence through our whistle blowing process, referred to as the Protector Line.
Suspicions and allegations of breaches of the Group Bribery and Corruption Policy must be reported to the Group Security Director at the first instance, who will ensure an effective investigation is initiated.
The Group Loss Prevention & Security Director reports on the Group Bribery and Corruption Policy to both the Audit Committee and the Compliance Committee annually. These reports include details of current monitoring practices and whistle blowing calls, any significant breaches of policy, and any developments in improving the policy and its compliance.
Details of the Audit Committee and Compliance Committee remits which include adherence to the Group Bribery and Corruption Policy is included in the Tesco PLC Annual Report.
For additional information please review our Code of Business Conduct.