28% of executives say bribery is rife in the UK.  Are you up to speed with preventing it?

28% of executives say bribery is rife in the UK. Are you up to speed with preventing it?

19 April 2016

An EY survey reported today in the Guardian shows that a huge 1 in 4 executives think bribery and corruption are widespread practices. 

 

With the survey having being completed before the release of Mossack Fonseca papers, the figures seem to reflect the ongoing conflict between financial and regulatory pressures rather than the fallout from the biggest leak of confidential files the world has seen so far. There has been a rise from 18% of respondents last year to 28% this year. 

 

Bribery cases in the UK are only recently starting to produce the court outcomes threatened by the UK Bribery Act 2010, and this may also contribute to this perception change.  However, particularly with the 12th May’s Anti Corruption Summit fast approaching, it’s a good time to review your organisational understanding of bribery and corruption.  

 

Most organisations have the basics well established but we commonly see a few areas for improvement.  These include:

 

  • ABC policies and procedures are often separated out from everyday practice.  To get the maximum impact, anti-bribery should be embedded into all relevant processes to make it as natural as core business.
  • Risk assessments and due diligence processes are not followed frequently enough.  This is particularly true with agents and associates; you should have contemporaneous data and be confident in your business relationships.
  • Not enough understanding of bribery in terms of ‘grooming’ over time.  We find that companies are usually very good at spotting instances of bribery but sometimes less so when it comes to long term relationships in which improper performance is being induced gradually. 

 

The Academy is offering two training solutions to improve your anti-bribery and corruption resilience. 

 

Firstly our three-day Understanding, Preventing and Investigating Bribery course covers the mechanics of corruption in detail.  It focuses strongly on how to identify and assess risks, as well as the unique challenges of bribery investigations.  You can find out more on our website.

 

Secondly, we’ve recently announced a partnership with CIPFA to deliver a Certificate in Anti-Bribery and Corruption Studies.  The certificate combines our excellent bribery course with an additional work and portfolio requirement monitored and assessed by CIPFA to grant this new qualification. Details for this course are also available on our website.

 

Regardless of the measures you adopt, we expect that the next few months will be an interesting period of developments in the ABC environment.

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