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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