By Daniel Hunter
Nearly 150 businesses will be given a Transparency International (TI) guide on how to assess their risk of bribery and corruption this week.
The guide, written in a practical DIY style to help companies get to grips with the complex nature of bribery, was handed out at a PwC Fraud Academy event on Wednesday night. It has been produced with the support of PwC Forensics partner, Will Kenyon, who acted as lead author and comes hot on the heels of TI’s recent Global Corruption Barometer (GCB), which showed more than one in two believes bribery has got worse over the past two years.
The top 10 risk assessment in the new document stresses leadership from the top is fundamental along with regular communications among staff. Included in the document is a practical risk assessment map which shows a step-by-step approach to assessing and reporting on issues.
“Bribery and corruption are not just on the agenda of most governments and businesses, they are becoming a top priority. The fact that we had such an overwhelming response to our Fraud Academy event reinforces that," lead author and PwC partner, Will Kenyon, said.
“It is fundamental that companies must lead from top as boards and management are responsible for setting strategy and objectives as well as promoting the right culture.”
Executive Director of TI UK, Robert Barrington, speaking at the launch, said: “The launch of this guide is timely and follows our recent TI corruption survey which shows that whilst people are prepared to fight against such issues — it is still widespread enough that we need to take action.
“Thanks to the support of PwC we have produced a practical guide, offering practical advice based on real-life experience on how to conduct an effective bribery risk assessment."
Gap analysis is another useful tool firms can adopt in assessing risk, which will show a firm where, in its risk assessment, there are areas of no, or inadequate controls, using whistle-blowing as an example.
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