ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperBusiness /OpinionEconomyPolicy WatchChina DataCompaniesMarketsIndustriesOpinionMotoringGadgetsGreen ChinaAvoiding risk of corporate briberyBy Omar Qureshi and Amy Smart(China Daily)Updated:2014-03-03 07:45
Comments Print Mail Large Medium SmallZhang Chengliang / China DailyCompanies around the world need to set up more effective anti-corruption proceduresWith almost daily reports of political and corporate corruption in the world media, you have to ask whether companies are taking sufficient steps to minimize the global risk of bribery.A recent survey by the consultancy Control Risks suggests not. The survey, which involved senior legal and compliance officers from more than 300 global companies, reported that:Only 35 percent of respondents said their companies have formal policy statements forbidding bribes.Police reveals more about GSK Chinas violat Top 10 white-collar crimes in 2013 Only 36 percent said their companies had a procedure for conducting risk assessments before entering a new country.About 74 percent have no general anti-bribery training program and 91 percent have no specialized training for employees in high-risk areas.Only 36 percent said they expected to have additional budget available next year for anti-corruption initiatives.Should these results be seen as surprising? Few countries have laws that oblige companies to have anti-bribery procedures in place. In times when profit margins are tight, company boards may consider that spending significant sums on internal compliance measures is an unaffordable luxury.For many multinationals, China is and will continue to be a key growth area. Yet from a corruption perspective, China is also one of the higher-risk jurisdictions for doing business, with its culture of gift giving and inducements, the necessarily high levels of interaction with public officials and State-owned entities, and the commonplace use of intermediaries to introduce and win business.China may offer one of the biggest prizes in terms of scope for growth, but it also presents one of the biggest risks in terms of corruption and the potential ramifications for individuals and corporations caught up in Chinese corruption investigations.Previous Page1 2 3 Next PagePrevious Page1 2 3 Next Page8.03KRelated StoriesAsset theft is top economic crime in ChinaDecor magnate arrested for suspected briberyPolice reveals more about GSK Chinas violationsBeijing investigates Sanofi bribery claim24 targeted in ex-tycoons sentencingChina fights corruption through stricter auditsPhotoRetail giant checks outTop 10 Chinese car maker movesEarth hour around the worldWorlds eight green stadiumsHighlights of the Baselworld 2014View from on highChina Economy By NumbersChina Economy by Numbers – Dec China Economy by Numbers – Nov NewsmakerFew textbook answers from Nobel prize winner Things you didnt know about Max BaucusMost ViewedTodays Top NewsNHTSA says finds no defect trend in Tesla Model S sedansWTO rare earth ruling is unfairAmway says 2014 China sales may grow 8%President Xi in Europe: Forging deals, boosting businessCNOOC releases 2013 sustainability reportLocal production by Chery Jaguar Land Rover this yearCar lovers test their need for speed in BMW Mission 3China stocks close mixed MondayHot TopicsTaxi booking appInternet finance12306.cnHousing priceWeChat4GChina MobileIPOs resumptionEditors PicksTop 10 Chinese car maker moves Worry-free financing plans aid car owners What a phone can do via lens 9 mysterious plane disappearances SpecialsGlobal business leaders weigh in on reformsBillionaires speak out on reform rolesInternet finance is in, but is banking out?…Media : |State Administration of Foreign Experts Affairs|QQ International|Peopleforum||Partners : |State Administration of Foreign Experts Affairs|QQ International|Peopleforum||Portals : |||Sina|Sohu|Tom|Tencent|NetEase|Hexun|Organizations : |China US Focus|FrenCham|CPAFFC|CPIFA||eBeijing|AmCham|SwissCham BJ|…| About China Daily | Advertise on Site | Contact Us | Job Offer |Copyright 1995 -. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.License for publishing multimedia online 0108263             Registration Number: 20100000002731