PT Kimia Farma Trading & Distribution (KFTD) has devised strategies to address corruption risks within its organizational structure. Wealth reporting is one of corruption prevention strategies implemented by the company. It is recognized as an effective method to prevent bribery and corruption.
Wealth reporting or wealth statement refers to an official statement of an individual’s assets, acquired or transferred out, and their liabilities, acquired or assumed. The reporting is ideally done once every year. It is one of the most accurate methods to calculate one’s income.
KFTD has held State Official Wealth Report (LHKPN) training for its employees, from management to regular staff. This is done not only to prevent any legal issue from arising in the future but also to fulfill the state-owned company’s obligation to the nation.
There are various benefits gained from implementing sound wealth reporting policies:
Discouraging corrupt practices
During wealth reporting, an individual must disclose all of their assets and liabilities without exception. This system discourages corrupt practices since employees will not be able to acquire a large amount of wealth without the company knowing. Any anomaly in employees’ wealth statements can be flagged immediately.
Maintaining the company’s reputation
Sound wealth reporting is key to the company’s reputation. People will trust organizations that are transparent about their internal conditions.
Improving the company’s internal management
Wealth reporting also benefits the company’s internal management by providing accurate salary system information. Companies that pay their workers fairly tend to be more productive and less divisive, eventually resulting in faster growth for the organizations. It also encourages employee loyalty toward their company.
Wealth reporting is an important tool in corruption prevention. However, the company also focuses on nurturing specific anti-corruption values in its employees. The company’s AKHLAK culture encourages these values: Amanah (Trustworthiness), Kompeten (Competence), Harmonis (Harmony), Loyal (Loyalty), Adaptif (Adaptive), and Kolaboratif (Collaborative).