When corporate hospitality could equate to bribery -and other new risks arising from new Bribery Act
Wednesday, July 07, 2010 | Posted by: Fiona Cullinan
Categories: Business advice | Tags: governance, report, survey, risk, emerging markets, compliance, Bribery Act, risk management, competition, bribery, corruption, anti-corruption, liability, ethics, FCPA, bribe, hospitality, criminal
The UK Bribery Act became law in April 2010 and will come into force later this year, creating a host of fresh risks to business and commercial organisations, and presenting a complex ethical conundrum. And yet, our survey suggests senior management frequently turn a blind eye to business conducted abroad at local or ground level in order to grease the wheels of industry.
So, exactly what are the risks – and more importantly how can you mitigate them?