Leading, publicly listed companies around the world are far from demonstrating embedded anti-corruption practices in their operations, according to a report issued today by Transparency International (TI).
While companies may often report high-level, strategic commitments to prevent corruption, they do not always provide meaningful details on the support systems required to meet such aims, TI found. The actual effectiveness of anti-bribery systems is distinct from mere reporting on their existence, yet such disclosure can be a strong indicator of the quality and comprehensiveness of a company’s efforts to address bribery and corruption.
“Public reporting is an essential link in the accountability chain and it is crucial for combating corporate corruption,” said Jermyn Brooks, Director of Private Sector Programmes at TI. “In the aftermath of the financial crisis, transparency is a key ingredient for companies seeking to restore public trust, but this can only happen if policies are implemented and reported on.”
See full Press Release.
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