| Resumen: |
Risks are rising, standards are not
Bribery and corruption are widespread, with 39% of respondents
in our survey reporting that bribery or corrupt practices
occur frequently in their countries. The situation is significantly
worse in rapid-growth markets.
Increasing acceptance of unethical behavior
Respondents to our survey were increasingly willing to make cash
payments to win or retain business, and a greater proportion —
including CFOs — expressed an increased willingness to misstate
financial performance.
• Globally, 15% of respondents are prepared to make cash
payments, versus 9% in our last survey
• 5% of respondents might misstate financial performance,
versus 3% in our last survey
Control environment not strong enough
Despite the risks, companies are failing to take sufficient
preventative measures. Mixed messages are being given by
management — with the tone at the top diluted by the failure
to penalize misconduct.
An independent view on compliance is
demanded
There is growing interest in using external parties to provide
assessments on the effectiveness of compliance management
systems. Companies listed in Germany are adopting the new
assurance standard (AssS 980) and companies outside
Germany may find its principles a useful roadmap for
maintaining an effective compliance program.
Preparing for new challenges
Companies pursuing opportunities in rapid-growth markets face
a wide range of new risks. Our survey shows that businesses
acknowledge these issues — although a significant minority (20%)
do not recognize that new markets bring new risks.
Managing third parties a top priority
Companies are often compelled to use third parties when
navigating new markets, and in doing so, are exposed to significant
risks. Monitoring anti-corruption controls in third parties, however,
is still underdeveloped in many businesses. Due diligence on third
parties is expected by regulators, but 44% of respondents report
that background checks were not being performed.
Acquisitions pose similar risks
US companies lead the field in conducting pre-acquisition due
diligence (77% always do so) — but businesses in other countries
are lagging behind. This exposes them to an area of risk regularly
highlighted in bribery and corruption prosecutions. Anti-bribery/
anti-corruption (ABAC) due diligence needs to start early, and
often it needs to be followed by further, post-acquisition due
diligence. Once identified, gaps in controls and compliance
programs must be swiftly addressed in a robust |
