A survey of 276 executives from global firms has revealed
that 13% were ‘not confident’ in their
company’s anti-corruption policies and procedures.
The survey was carried out by Deloitte in response to the
increase in the number of prosecutions in the US under the
Foreign Corrupt Practices Act, and the introduction of the
Bribery Act in the UK. Of those surveyed, 29% said they
were ‘very confident’ in their company’s
procedures, while 58% claimed they were somewhat confident.
The survey reported that many directors feel that there are so
many sources of risk for large companies that although they may
have stringent policies and procedures in place, there are
unlikely to catch every risk. The top five cited risks
were: use of third parties (52%); entertainment related to
government business/relations (30%); bribes (27%); gifts
offered to government officials (24 %); and travel and lodging
expenses for foreign government officials (21%) ...
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ICSA Newswire 6 October 2011.