NACP and NSSMC have started cooperation in risk assessment and anti-corruption activities

Today, Alexander Novikov, Chairman of the National Agency on Corruption  Prevention (NACP), and Ruslan Magomedov, Chairman of the National Securities and Stock Market Commission (NSSMC), discussed the details of a joint project which will be started this month.

This is a pilot project on training and consulting on risk assessment, development of an effective anti-corruption program, as well as testing the concept of a new methodology of corruption risk management. Project implementation envisages:

• “friendly audit” of corruption prevention;
• assessment of corruption risks in the activity of the NSSMC and development of measures to eliminate or minimize them;
• creation of a risk register of the body.

The results of the Project will form the basis of the NSSMC’s new anti-corruption policy, and best practices will form the basis of recommendations for other government agencies.

“We appreciate the proactive position of the NSSMC, which initiated this project. We support organizations that are willing to implement best practices and mechanisms for identifying and managing corruption risks. NACP is ready to help with both counseling and practical work with real results. We also hope that this project will continue the positive practice of cooperation with other authorities” – Oleksandr Novikov, the Chairman of the NACP, said during the meeting.

“The direction of detection and management of corruption risks is extremely important in our work and now my colleagues and I are starting a new project, on which we have high hopes. We hope that by joint efforts we will develop an effective and modern anti-corruption model and system for assessing such risks” – Ruslan Magomedov, Chairman of the NSSMC, said.

The NSSMC project is the second to be implemented by the NACP together with the government agencies. In April, the work on risk assessment at the Pension Fund has started, the roadmap was agreed and the stages of implementation were distributed. Both projects are designed for 6 months. The first results will be available on NACP resources.