Investor report hammers home bribery risks

The report shows that:

• The number of ASX100 companies operating in sector or country deemed high-risk for corruption has increased from 56% in 2006 to 75% in 2011;

• ASX100 companies lag the top 100 companies (by market cap) from the UK, US and Europe in prohibiting the giving and receiving of bribes; and

• 126 ASX200 companies operating internationally are exposed to high-risk sector, country or both, but 40% of these companies have no public policy that prohibits bribery or facilitation payments.

Corruption is estimated to cost between US$1 trillion and US$1.6 trillion globally each year (World Bank estimates).

The ACSI report draws on previous research undertaken by CAER, EIRIS company assessments and incorporated data produced by Transparency International’s Corruption Perception Index and the World Bank Governance Indicators.

It also provides comparisons of companies’ stated anti-corruption and bribery policies against companies’ disclosed management systems for implementation.

For copy of the report: www.acsi.org.au

 

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