The last two decades have seen a great shift in awareness and dedication to fighting corruption, through the OECD (Organisation for Economic Co-operation and Development), United Nations treaties and now the G20, together with the ongoing activities of campaigning NGOs around the world.
Both legislation and the business response to anti-corruption are now intensifying. Transparency International, a leader on anti-corruption advocacy worldwide, only came into being in 1993. The OECD Anti-Bribery Convention was developed in 1997 and the United Nations Convention against Corruption was first signed in 2003.
It is recognised that the large multinationals have more weight to stand up and say no to bribery in practice. Therefore, for smaller organisations, collective action between companies on the ground in high risk geographies may be needed as a stand against bribery and corruption. Standing together, whether within your sector or cross-sectorally, also helps to level the playing field. Organisations should be encouraged to seek government support wherever possible.
Download the UK Bribery Act 2010 guidance leaflet
Read ‘A CGMA guide to countering fraud and corruption’
Read an article: ‘Why you should always report fraud’