Deloitte Bribery and Corruption Survey 2012 Australia & New Zealand
A storm on the horizon?
Historically, bribery and corruption has not been high on the risk agenda for Australian and New Zealand organisations. Other risks have seemed both more important and more immediate.
For some organisatons, entering the murky world of paying bribes in relation to offshore operations has been seen as a necessary cultural evil, and the price of doing business in offshore locations where corrupt behaviour is considered the ‘norm’. However, the landscape is changing. Expectations are higher and stakeholders are increasingly demanding a commitment to ethical business dealings across the operational spectrum.
So what has changed?
A number of things, including:
- As Australian and New Zealand organisations increasingly look overseas for new business and growth opportunities, their exposure to corruption risk and non-compliance with applicable foreign anti-bribery legislation increases
- The enactment of the United Kingdom’s Bribery Act (UKBA) in July 2011, and the growing impact internationally of the long enforced United States’ Foreign Corrupt Practices Act’s (FCPA)
- Increasing enforcement by the Australian Federal Police (AFP) and New Zealand’s Serious Fraud Office (SFO), means the activities of wayward individuals and organisations are increasingly under the microscope.
Ignorance and inactivity are also no longer a defence. Consequently, awareness of the risks, and how to manage them, has become more important than ever before.
The results of this inaugural Deloitte Bribery and Corruption Survey confirms our experiences that Australian and New Zealand organisations are encountering bribery and corruption incidents and challenges which many are ill-equipped to identify, manage and, most importantly, prevent.
With this report, we not only provide a summary of our survey results, but also present the views of regulatory bodies, the international body fighting corruption, Transparency International (TI), and industry experts.