An effective monitoring mechanism must be implemented if the United Nations Convention against Corruption (UNCAC) is to gain momentum, was the main message from business at the Second Conference of the States Parties to the UNCAC held in Nusa Dua, Indonesia.

The convention, signed by 140 countries and ratified by 107, aims to eliminate all forms of corruption around the world through the cooperation of countries and their governments. The conference held from 28 January to 1 February focused on expanding and advancing the various aspects of the convention agreed upon at the last conference in Jordan in 2006.

Highlighting global businesses commitment to the convention, ICC emphasized that organizations have started reviewing their anti-corruption rules and recommendations with the aim of achieving the highest possible degree of harmonization, while at the same time aligning their self regulatory texts with the provisions of the UNCAC.

"The United Nations convention, if regularly monitored and genuinely applied, holds the potential of a level playing field in which all market participants have a fair and equal chance to compete in open and transparent conditions," said Francois Vincke, Chair of the ICC Commission on Anti-Corruption.

For a summary of business positions on the UNCAC, please  click here 

For more information about the UNCAC, please  click here