“Ethics and Corporate Governance in the Fight against Corruption” via CIPE Development Blog
Building the institutional framework for better companies and better societies is a learning process, where the public, private, and civil society sectors share mutual responsibility to strengthen good governance, particularly in the context of developing countries. All stakeholders must ensure that the rules of the game are written and applied for the benefit of all of society and not for the private gain of the few. If that is not the case, corruption can take its most extreme form: state capture, where a country is run for the benefit of political elites colluding with narrow private interests at the expense of the society at large.
This Feature Service article is based on the report of the International Consultation on the “Role of the Private Sector in Ethics and Corporate...
Corruption Costs via CIPE Development Blog
According to a new Ernst & Young survey,
illegal business practices including bribery are still used by many organizations to secure or retain business, despite the rise in international anti-corruption legislation and law enforcement…
Key findings of this global, private sector survey include:
Although companies are doing more to establish anti-corruption programs, their efforts are being undermined by a lack of knowledge about relevant legislation.
Two-thirds of respondents claimed to know nothing about the Foreign Corrupt Practices Act (FCPA).
Over two-thirds of respondents believed their internal audit teams were capable of detecting bribery and corruption.
The full survey is available here. Other notable findings are:
Regulatory enforcement is significantly stronger than...