TISL forms coalition to fight corruption in the private sector

TISL forms coalition to fight corruption in the private sector

Transparency International Sri Lanka (TISL) has formed a coalition with several professional associations to fight against corruption and promote transparency and good governance in the private sector.

The overall goal of the coalition is to be the “voice of business and professionals” in promoting collective action through Private Sector led Transparency, Good Governance, Integrity, adherence to Best Practice Business Principles and Anti Corruption Initiatives in Sri Lanka.

Specific objective of the coalition are to facilitate a broad based understanding of the real long term impact and risks associated with business corruption and failures in business integrity, to serve as a platform for the exchange of knowledge, expertise, best practices and case studies with a view to creating a demand for business integrity and to  build and enhance the capability and capacity for private sector led management in advocacy and promotion of “integrity tools” within the Sri Lankan private sector.

At the moment the Private Sector Integrity Coalition is comprised of Ceylon Chamber of Commerce, National Chamber of Commerce, Federation of Chambers of Commerce and Industry in Sri Lanka, Institute of Chartered Accountants of Sri Lanka,  Chartered Financial Analysts, Post Graduate Institute of Management and Transparency International Sri Lanka.

TISL is planning to expand the coalition to include other chambers, civil society organizations, academic and post graduate institutes and International Funding Agencies. Meanwhile, Bar Association has already shown interest in joining the coalition.

The Coalition intends to have at least  20% of the Coalition Chamber member entities to  formally adopt, in line with international best practice a set of business standards and to have at least 3 integrity Pacts adopted by targeted business  sectors. TISL is also looking into get at least two post graduate management institutes to have embedded within their curricula transparency/good governance, business integrity and anti corruption promotion programmes targeting the young leaders of tomorrow.

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