Among the findings — 40 percent of all compliance officers surveyed believe their company’s bribery and corruption risks will increase in 2016. Their biggest concerns are global expansion and third-party risk.
More than half of the respondents now work with more than 1,000 third parties.
One in four respondents said they have “no confidence in the ability of their company’s current controls to detect third party violations of anti-corruption laws.”
Kroll and Ethisphere first published their report in 2011. For this year’s edition, they collected 267 qualified responses from senior-level executives working in ethics, compliance, and anti-corruption. The respondents came from scores of public and private global industries.
More than half of the respondents said their board of directors plays an active role in compliance program development, and 48 percent said the same about their CEO.
M&A activity in 2015 topped a record $3.8 trillion. “Yet, over a quarter of survey respondents stated they do not have anti-corruption measures or programs in place for M&A or other corporate transaction targets,” according to Kroll and Ethisphere.
One third of the respondents said they are more concerned with personal liability than in prior years.
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The full 2016 Anti-Bribery and Corruption Benchmarking Report can be downloaded here.
Richard L. Cassin is the publisher and editor of the FCPA Blog. He can be contacted here.