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Post implementation survey shows that Companies are struggling with International Anti-Bribery and Corruption Compliance.

UK and US companies normally believe that they are at a leading edge in the Fraud and Corruption compliance relative to other countries. The change every company of any size, any industry, and any geographical area, and have them all be in synch with the exactly the same compliance progress and on a particular trend, is quite daunting.

Though the majority of companies in the U.S. and the U.K. are taking measures to address risks associated with anti-bribery and corruption compliance, important percentages are still struggling with such challenges, especially with third party risks and assessing different international requirements:
  • Only a third of the companies that participated in the survey performed anti-bribery and corruption risk assessments. About 20 percent of the firms gave their employees communication and training.
  • About 40 percent of firms that trained their employees in anti-bribery and corruption didn't also do so for third parties, such as agents, distributers, vendors, brokers, joint venture partners, or suppliers.
  • More than half of companies did not get periodic compliance certificates from these outside partners.
  • About 60 percent of firms, who have the right to audit their third parties, did not do so.
  • Only 43 percent of participating U.S. companies said their anti-bribery and corruption program was compliant with the U.K. Bribery Act. 46 percent of U.K. participants said that their programs were FCPA-compliant.

While every company should look at anti-corruption and bribery as an important business issue and make an informed decision based on a risk assessment, in reality the work doesn't always get done.

The survey results are surprising because the general belief is that most companies seem to focus on addressing global anti-corruption concerns. Companies are focusing on Fraud and Corruption issues and trying to adapt their compliance programs in a way that meaningfully addresses the mandates of FCPA risk and the U.K. Bribery Act.

Source: KPMG's 2011 Global Anti-Bribery and Corruption Survey.