BAKU, Azerbaijan, March 24. The State Oil Company of Azerbaijan Republic (SOCAR) has once again demonstrated its commitment to international experience and high ethical standards by launching a new training program in the field of compliance, a source in SOCAR told Trend.
In the first session of the training program organized by The Consultant Global company, SOCAR's president, vice presidents, segment heads, as well as the heads of SOCAR's structural divisions and enterprises participated.
During the training, information was presented on the formation of a compliance culture, SOCAR’s updated Business Ethics and Code of Conduct, as well as the requirements of other newly implemented documents and procedures in the compliance field, along with international best practices.
The training sessions were conducted interactively, focusing on discussions, as well as practical approaches aimed at regulating internal relationships in terms of compliance and finding solutions to arising issues.
SOCAR’s new compliance system generally defines the behavior rules for employees, while also regulating relationships with third parties to ensure the timely detection of corruption, other illegal activities, and ethical violations, as well as the implementation of appropriate measures.
Thus, through the implementation of this training program, SOCAR reaffirms its commitment to transparency and advanced business principles. The compliance system implemented by SOCAR and the training sessions held based on it, which are grounded in international practices, support the application of internal normative documents, their monitoring, the conveying of their core principles and requirements to the relevant parties, and overall raising the level of awareness regarding the compliance system.
In order to integrate business ethics and compliance culture into all areas of the company's activities, training will be held not only for employees of SOCAR’s Headquarters but also for all enterprises within the SOCAR Group.
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