Bribery and corruption survey 2017

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Bribery and corruption survey 2017

One Step Ahead: The value of obtaining and maintaining the ABC edge

Is your management of bribery and corruption risk one step ahead, or falling behind? Deloitte asks Australian and New Zealand risk leaders for their perceptions and experiences.

Bribery and corruption is a multi-faceted issue, with incidents potentially damaging reputation, culture, regulatory standing and even profitability. An Anti-Bribery and Corruption (ABC) framework has never been more valuable.

Deloitte’s 2017 survey of Australian and New Zealand risk leaders and managers found that while the reputational risk is appreciated, it is not necessarily averted. Against a backdrop of rising public scrutiny and political concern, organisations may not be moving fast enough to give their ABC frameworks the edge.

Partly, this is because visibility of the risk may need improvement – only one respondent organisation in five detected an incident in the last five years, and fewer than half had conducted a foreign bribery risk assessment. But respondents did appreciate the importance of behavioural factors, such as culture, training and tone, and our report also suggests the scope for integration with wider financial crime programs and organisational activities. Data analytics, predictive modelling and other tools are all potential avenues for integrated, proactive approaches.

Key findings from the survey, whose respondents were mainly C-suite or Board-level, include:

  • 65-70% of respondents saw reputational impact as the key downside posed by domestic or foreign corruption
  • More than half had not carried out a risk assessment for foreign bribery
  • Only one in five detected an incident of bribery and corruption in the last five years
  • 77% saw organisational culture as one of the most effective tools for preventing domestic corruption. This was closely followed by ‘tone at the top’
  • Conflicts of interest were the most commonly cited type of domestic corruption at 21%
  • Only 55% of organisations expected to implement or upgrade their ABC framework in the next five years.

Deloitte’s report concludes by exploring the inherent value of an ABC framework, and sharing insights into how readers can ensure that they obtain and maintain the edge – getting and staying one step ahead of the risk.

Published: June 2017

Bribery and corruption survey 2017

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