bold spirit - ArcelorMittal South Africa

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ArcelorMittal South Africa
Annual Report 2010
Business ethics
There were no reported instances of contravention of ethical
or anti-corruption guidelines during the year.
Our approach to managing business
ethics and corruption is guided by
the ArcelorMittal Group Code of
Business Conduct (see page IV of the
annual report) and Anti-corruption
Guidelines. Both policies form part of
our compliance programme.
The Group anti-corruption guidelines
establish procedures for handling
concerns around possible corrupt
practices and provide guidelines on
how to fight and prevent corruption.
All senior executives as well as staff
in relevant sections of the business
are required to be trained in the
application of these guidelines. To
date 686 employees out of a total
of 983 requiring anti-corruption
training have been trained in our anticorruption
policies and procedures.
Fraud risks relating to corruption are
included in the annual internal audit
plan to be covered during a year as
part on the internal audit work.
ArcelorMittal’s anti-corruption
policy provides guidelines with
regard to payment to political parties
or government officials. Political
contributions may be made only in
accordance with applicable laws and
are subject to prior written approval
of the local legal department. No
gifts and gratuities may be offered
to government officials except for
promotional items of little value and
provided they are not offered with a
corrupt intent.
There were no reported instances
of contravention of ethical or anticorruption
guidelines during the year.
There were also no significant cases
of fraud or other misdemeanours
reported.
Anti-competitive behaviour
Anti-competitive behaviour
is monitored according to the
ArcelorMittal Group Anti-trust
Guidelines which we have an obligation
to observe. The anti-trust guidelines
explain the basic principles of anti-trust
and competition law. The guidelines
require absolute avoidance of any
conduct which violates underlying
principles of competition laws. All senior
executives as well as staff in relevant
sections of the business are trained in
the application of these guidelines.
Competition Authority
investigations
The group is currently the subject
of a number of investigations by the
Competition Authority expanded on in
the ‘Finance report’ on page 23.