Responsibility for compliance with the General Business Principles rests principally with the management of each business. Every market organization and each main production site has a GBP Compliance Officer. Confirmation of compliance with the General Business Principles is an integral part of the annual Statement on Business Controls. The management of each business unit is required to issue such a Statement as part of a cascading process leading to CEO/CFO certification of the company’s annual accounts.
Philips has a GBP Reporting Policy in place that encourages all employees to report any suspected violation of the General Business Principles that cannot be resolved together with the management concerned or that constitute an immediate threat to corporate integrity.