Globalization has entered a new phase, posing greater challenges for anti-bribery and corruption (ABC) compliance than ever before. Two factors are creating new issues for companies, according to a new report by KPMG International. First, a growing number of governments around the world are tightening anti-bribery and corruption (ABC) regulations or introducing new ones. Second, companies rely more heavily on third parties than before to do business and managing third-party risk is important.
A survey of respondents around the world, conducted by KPMG International, shows that companies are rising to the challenge but that a great deal more needs to be done to create a sturdy ABC compliance structure. For full details, read the report Anti-bribery and corruption: Rising to the challenge in the age of globalization.
About the survey
The survey targeted 659 respondents covering 64 countries, with 140 respondents based in Central & Eastern Europe (including Bulgaria), 113 in Western European countries (excluding the UK), 105 from the Asia – Pacific region, 66 respondents in the U.S., 64 from the South American continent (31 in Mexico), 61 in South Africa and 41 in the UK. Industries were widely represented: banking comprised 20 percent, life sciences 12 percent, manufacturing 10 percent and energy & natural resources 8 percent. The survey was completed in October, 2014.