In the wake of the accusations leveled at individual company employees at the end of 2006 (suspicion of breach of trust, bribery and tax evasion), Siemens initiated comprehensive measures to ensure full compliance at the company.
Siemens has made Compliance its top priority with the aim of establishing a company culture in which adherence to a code of conduct, based on high legal and ethical standards, provides the fundamental values for all its business activities.
The Siemens Compliance Program is a compilation of all the regulations applied in the field of Compliance within Siemens. Called ‘Business Conduct Guidelines’, these are globally binding rules applicable to every Siemens employee in order to facilitate their day-to-day work in an ethically and legally correct manner. These guidelines are the basis of our work and the relationships of our employees with one another as well as with our customers and partners.
A spectrum of topics are covered under these guidelines : like basic behavioral requirements, offering and granting advantages, special rules for awarding contracts, donations, gifts, sponsorships, confidentiality, implementation and controlling issues. It also contains additional regulations regarding, for example, the processing of payments and proper dealings with business consultants.
Siemens has a zero-tolerance policy on illegal and unethical behavior. We conduct our business responsibly and in compliance with the laws and regulations of the country we do business in.
To implement the Compliance Program, Siemens has not only set up a worldwide compliance organization but also a system to verify adherence to the program.