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Glossary of Compliance Terms

APEC — Asian-Pacific Economic Cooperation is an intergovernmental group formed to facilitate economic growth, cooperation, trade and investment in the Asia-Pacific region. It operates on the basis of non-binding commitments, open dialogue and equal respect for the views of all participants.

Attestation — The affirmation by signature, usually on a printed form, that the action outlined has been accomplished by the individual signing; e.g., the individual has read the code of conduct and agreed to adhere to its principles.

Attorney-Client Privilege (US mainly, but may apply to some other countries) — A legally accepted policy that communication between a client and attorney is confidential in the course of the professional relationship and that such communication cannot be disclosed without the consent of the client. Its purpose is to encourage full and frank communication between attorneys and their clients.

Bribery — The crime of bribery is described in Section 1 of the Bribery Act of 2010, as occurring when a person offers, gives or promises to give a “financial or other advantage” to another individual in exchange for “improperly” performing a “relevant function or activity.”

Bribery Act 2010 — The Bribery Act 2010 is an Act of the Parliament of the United Kingdom that covers the criminal law relating to bribery.

Chain of Command — The hierarchy of reporting structure within an organization, which assumes all issues will be presented first to one’s immediate supervisor.

Chief Audit Executive (CAE) — A high level independent corporate executive with overall responsibility for internal audits.

Commonwealth of Independent States (CIS) — A regional organization whose participating countries are former Soviet Republics, formed to coordinate powers in the realm of trade, finance, law, and security.

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