Innovia Security receives Banknote Ethics Initiative accreditation
20 February 2014
London, England - Following the first meeting of the BnEI Accreditation Council on February 17 and 18, Innovia Security has been accepted as a Member of the Banknote Ethics Initiative (BnEI). In granting the accreditation, the Council gave careful consideration to the independent audit report - authored by GoodCorporation - of Innovia Security’s anti-corruption and antitrust capabilities. The Council’s decision means Innovia Security is one of the first three organisations in the banknote industry to receive the prestigious accreditation.
"The audit process was extremely thorough, and as an organisation that has spent the last three years focusing intensely on this area, we were impressed with the audit team’s stringent requirements and the focus on detail in understanding the application of integrity and ethics to all parts of our business," says Chief Risk & Compliance Officer, Geoff Bell.
View an infographic summarising Innovia Security’s approach to Integrity and Ethics.
"This is a very significant achievement for our company. We believe that Central Banks are highly supportive of industry efforts to pursue the highest possible standards and of the BnEI initiative in particular. For Innovia Security, supporting such industry efforts is core to our values," says Managing Director, Philippe Etienne.
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About the Banknote Ethics Initiative
The Banknote Ethics Initiative (BnEI) is an initiative established to provide ethical business practice, with a focus on the prevention of corruption and ensuring compliance with anti-trust law within the banknote industry.
Maintaining high ethical standards across the banknote industry is essential in order to ensure customers and other stakeholders are confident that the standards applied to their practices by BnEI accredited members are beyond reproach.
Working together, BnEI members can help ensure that all companies operating in the industry are performing to the highest ethical standards.
Members must adhere to a strict Code of Ethical Business Practice. All organisations that have signed the Code must become accredited after passing an audit carried out by a third party auditor, GoodCorporation or KPMG.
For more information:
T +61 3 9303 0709