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A Record of Hospitality Gifts tracks all business gifts, entertainment, and hospitality items that companies and their employees give or receive in Hong Kong. It's a crucial compliance tool that helps organizations stay transparent and meet anti-corruption requirements under the Prevention of Bribery Ordinance.

This record typically includes details like gift values, dates, recipient names, and business relationships. Companies use it to spot potential conflicts of interest, maintain ethical standards, and protect themselves during regulatory reviews. The Independent Commission Against Corruption (ICAC) recommends keeping these records as part of good corporate governance practices.

Start using a Record of Hospitality Gifts immediately when your company begins operating in Hong Kong, especially if you interact with government officials or business partners who exchange gifts. This record becomes essential during festive seasons like Chinese New Year, when gift-giving peaks and compliance risks increase.

Update your records promptly after each gift exchange, business meal, or entertainment event. The ICAC scrutinizes these transactions closely, so maintaining detailed, real-time documentation helps protect your company from bribery allegations. Regular recording also makes it easier to spot patterns, track cumulative values, and prepare for annual compliance reviews.

• Basic Gift Log: A simple spreadsheet tracking gift details, values, and parties involved - ideal for small businesses and startups
• Comprehensive Register: Detailed documentation with additional fields for business relationships, approvals, and compliance notes - suited for larger corporations
• Digital Tracking System: Electronic platform with automated alerts for threshold violations and built-in reporting features
• Department-Specific Records: Customized formats for different business units, especially useful for sales teams and procurement departments
• Executive Entertainment Log: Specialized tracking for senior management's hospitality exchanges, with enhanced scrutiny and approval requirements

• Compliance Officers: Maintain and monitor the Record of Hospitality Gifts, set policies, and ensure alignment with ICAC guidelines
• Department Managers: Review and approve gift exchanges, ensure staff compliance, and verify record accuracy
• HR Teams: Train employees on gift policies and maintain documentation for internal audits
• All Employees: Report received gifts, seek approval for giving gifts, and follow company gift policies
• External Auditors: Review gift records during compliance assessments and anti-corruption audits
• Legal Teams: Advise on policy updates and handle any ICAC inquiries about recorded gifts

• Gift Details: Record exact description, market value, date received or given, and purpose of the gift
• Party Information: Document names, titles, and companies of both gift givers and recipients
• Internal Approvals: Note who authorized the gift exchange and reference relevant policy guidelines
• Business Context: Explain the business relationship and reason for the gift exchange
• Supporting Documents: Attach receipts, photos, or other proof of value and exchange
• Compliance Check: Verify gift values against company thresholds and ICAC guidelines
• Record Storage: Save in a secure, easily accessible system for audit purposes

• Gift Information Section: Detailed description, market value, date, and form of the gift or hospitality
• Party Details: Full names, positions, and company affiliations of all involved parties
• Authorization Fields: Approval signatures, dates, and decision-maker details
• Business Purpose: Clear statement of the legitimate business relationship and occasion
• Compliance Declaration: Confirmation of adherence to POBO guidelines and company policy
• Value Thresholds: Documentation of gift values against permitted limits
• Record Retention: Statement on storage duration and accessibility requirements

A Record of Hospitality Gifts differs significantly from a Records Retention Policy. While both documents support compliance efforts, they serve distinct purposes in Hong Kong's regulatory landscape.

• Primary Focus: Records Retention Policies cover all company documents, while Hospitality Gift Records specifically track gift exchanges and entertainment expenses
• Legal Requirements: Gift records must comply with ICAC and POBO anti-corruption guidelines, while retention policies follow broader data protection and corporate governance standards
• Update Frequency: Gift records require immediate updates after each exchange, whereas retention policies typically need annual reviews
• Audit Trail: Gift records create detailed transaction histories for anti-corruption compliance, while retention policies establish rules for maintaining various business records
• Regulatory Scope: Gift records focus on preventing bribery and corruption, while retention policies address multiple regulatory requirements including privacy and corporate laws