Friday, March 16, 2007

Siemens scandal puts groups on alert


Good news coming out of the Siemens disaster, that other companies, and not only German companies, are focussing on what processes they have in place.

Onésimo Alvarez-Moro

See article:
Several large German blue-chip companies are urgently checking - and in some cases tightening - their compliance and anti-corruption systems in the wake of a €426m ($563m) bribery scandal that has engulfed Siemens, Europe's largest engineering group.

Companies including MAN, Continental and Linde have discussed whether they need to take further action. Some have even been in contact with Siemens.

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