Thanks to the input from hundreds of compliance leaders from around the globe, we can now share with you the perceived strengths and weaknesses of today’s anti-corruption programs, the focus of anti-corruption experts going forward, and the risk mitigation practices being employed by various companies.
First published in 2011, the ABC Report provides compliance professionals with a comprehensive view of the types of bribery and corruption risks encountered by businesses every day, as well as the data to advocate effectively within their organizations. We launched this year’s survey in January 2016 to a global audience, asking a variety of questions about third party due diligence, stakeholder engagement, as well as merger and acquisition activity. We also included open response questions to enable survey-takers to express their thoughts more directly. Anti-bribery executives worldwide responded to our invitation to take the survey, and we collected 267 qualified responses from senior-level executives working in ethics, compliance, and/or anti-corruption. These respondents hailed from scores of industries, both public and private companies with operations around the world. We are grateful for their participation.
The ABC Report reveals several clear trends, many of which correlate to broader market developments. For example, compliance officers are facing pressures from the global growth and geographic expansions of their organizations, as well as continuing enforcement of anti-corruption and bribery laws around the world. And, the universe of third parties with which a compliance team must grapple remains large — nearly half of respondents are reportedly working with more than 1,000 third parties, and many respondents expressed concern with their ability to identify and prevent misconduct among this important risk segment.
Fortunately for compliance officers, as anti-corruption efforts tie more deeply into broader company strategy and business trends, the ABC Report indicates that there is a growing awareness of the challenges and their significance. Further, executive teams are increasingly supportive of their company’s anti-corruption programs. Respondents who reported high levels of engagement by their leadership and board members were significantly more likely to express confidence in their ability to detect misconduct and satisfaction with the resources allocated to their efforts.
All of this and much more is set forth in this supplement. We hope the information serves as a guidepost for ongoing efforts to continue to develop best-in-class anti-corruption and bribery programs that protect both organizations and the integrity of global business.
Throughout this report, the term “anti-bribery and corruption” and the reference “ABC” are intended to encompass compliance efforts to mitigate the risks of both bribery and corruption in global business transactions.
Click here for a copy of the full report.