KPMG Global Anti Bribery and Corruption: Rising to the Challenge in the Age of Globalization

Corruption continues to corrode the global economy, 18 years after member governments of the Organization for Economic Co-operation and Development (OECD) signed a convention1 that establishes legally binding standards to criminalize the bribery of public officials. Since then, a growing number of g...

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Main Authors: SUWARDY, Themin, SEOW, Poh Sun, PAN, Gary
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2015
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Online Access:https://ink.library.smu.edu.sg/soa_research/1498
https://ink.library.smu.edu.sg/context/soa_research/article/2497/viewcontent/P_ID_52652_antibriberycorruption2015.pdf
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spelling sg-smu-ink.soa_research-24972018-07-13T07:14:54Z KPMG Global Anti Bribery and Corruption: Rising to the Challenge in the Age of Globalization SUWARDY, Themin SEOW, Poh Sun PAN, Gary, Corruption continues to corrode the global economy, 18 years after member governments of the Organization for Economic Co-operation and Development (OECD) signed a convention1 that establishes legally binding standards to criminalize the bribery of public officials. Since then, a growing number of governments have passed anti-bribery and corruption (ABC) laws. The U.S. is no longer the lone policeman on the beat; the UK and other European governments have implemented anti-corruption regulations too, as have emerging economies including China and Brazil. Despite tougher enforcement of regulations to combat bribery and corruption, illicit payments to counter-parties continue to burden economies, diverting resources from people and places where they could do most good. In 2013 the World Bank estimated2 that the amount of bribes worldwide totals $1 trillion a year. Companies may consider themselves sandwiched between counter-parties asking for bribes and regulations attempting to curb the practice, but this would be a mistake. Rather than succumbing to a sense of victimhood, every company needs to ask itself some fundamental questions about why they are in business and what it‘s going to take to conduct business ethically everywhere. This report, based on a global survey of 659 respondents around the world, offers insights into the challenges they face complying with this new world of ABC regulation and the pressures of looking the other way when a third party acts as intermediary for the bribe. For their part, companies are taking the initiative to many levels to curb corruption, from the lonely outpost in a far-off country to a multilateral effort to raise business standards. 2015-08-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/soa_research/1498 https://ink.library.smu.edu.sg/context/soa_research/article/2497/viewcontent/P_ID_52652_antibriberycorruption2015.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection School Of Accountancy eng Institutional Knowledge at Singapore Management University Fraud Bribery Corruption Accounting
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Fraud
Bribery
Corruption
Accounting
spellingShingle Fraud
Bribery
Corruption
Accounting
SUWARDY, Themin
SEOW, Poh Sun
PAN, Gary,
KPMG Global Anti Bribery and Corruption: Rising to the Challenge in the Age of Globalization
description Corruption continues to corrode the global economy, 18 years after member governments of the Organization for Economic Co-operation and Development (OECD) signed a convention1 that establishes legally binding standards to criminalize the bribery of public officials. Since then, a growing number of governments have passed anti-bribery and corruption (ABC) laws. The U.S. is no longer the lone policeman on the beat; the UK and other European governments have implemented anti-corruption regulations too, as have emerging economies including China and Brazil. Despite tougher enforcement of regulations to combat bribery and corruption, illicit payments to counter-parties continue to burden economies, diverting resources from people and places where they could do most good. In 2013 the World Bank estimated2 that the amount of bribes worldwide totals $1 trillion a year. Companies may consider themselves sandwiched between counter-parties asking for bribes and regulations attempting to curb the practice, but this would be a mistake. Rather than succumbing to a sense of victimhood, every company needs to ask itself some fundamental questions about why they are in business and what it‘s going to take to conduct business ethically everywhere. This report, based on a global survey of 659 respondents around the world, offers insights into the challenges they face complying with this new world of ABC regulation and the pressures of looking the other way when a third party acts as intermediary for the bribe. For their part, companies are taking the initiative to many levels to curb corruption, from the lonely outpost in a far-off country to a multilateral effort to raise business standards.
format text
author SUWARDY, Themin
SEOW, Poh Sun
PAN, Gary,
author_facet SUWARDY, Themin
SEOW, Poh Sun
PAN, Gary,
author_sort SUWARDY, Themin
title KPMG Global Anti Bribery and Corruption: Rising to the Challenge in the Age of Globalization
title_short KPMG Global Anti Bribery and Corruption: Rising to the Challenge in the Age of Globalization
title_full KPMG Global Anti Bribery and Corruption: Rising to the Challenge in the Age of Globalization
title_fullStr KPMG Global Anti Bribery and Corruption: Rising to the Challenge in the Age of Globalization
title_full_unstemmed KPMG Global Anti Bribery and Corruption: Rising to the Challenge in the Age of Globalization
title_sort kpmg global anti bribery and corruption: rising to the challenge in the age of globalization
publisher Institutional Knowledge at Singapore Management University
publishDate 2015
url https://ink.library.smu.edu.sg/soa_research/1498
https://ink.library.smu.edu.sg/context/soa_research/article/2497/viewcontent/P_ID_52652_antibriberycorruption2015.pdf
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