Anti-corruption must move up corporate agendas

Author: Lizzie Meager | Published: 27 Apr 2016

A new report has revealed shortfalls in corporate anti-corruption policies amid an increase in enforcement action, calling on CEOs and board members to toughen their stance.

The study, produced by Hogan Lovells, found that 59% of companies surveyed embrace a culture of 'profits over prevention’, and that anti-bribery and corruption did not have regular slots on 44% of board agendas.

"The main theme here I think is this idea of competing priorities – these companies are under a lot of commercial pressure," said Crispin Rapinet, the partner at Hogan Lovells who commissioned the report. "But most of them can't take the hit of some of the huge fines we’ve seen. They’ve got to strike the right balance between the two."

Some respondents claimed it is difficult to do business in certain jurisdictions without being exposed to compliance risks. This is offset with the commercial drive to enter new markets...