Anti-corruption: Contributions to the public debate 2007/2008
DTT and its member firms are committed to fighting corruption and bribery in all its forms and DTT leaders made this commitment very clear in FY07 by signing the two following important global initiatives:
- In April 2007, DTT joined the World Economic Forum's " Partnering against Corruption Initiative" (PACI), which aims to provide a framework for good business practices and risk management strategies for countering bribery. DTT is also a member of PACI's External Verification/Third-Party Certification working group.
- At the 2008 World Economic Forum meeting in Davos, John Connolly, Chairman of Deloitte Touche Tohmatsu, joined a group of 13 other business leaders in signing a leadership statement calling on their peers to join collaborative efforts to strengthen public governance frameworks and institutions as a core element of their approach to corporate citizenship.
During FY07, DTT and its member firms published widely on issues related to anti-corruption and bribery. Below are a few examples.
- Deloitte China published Financial Reporting in Hong Kong , a book designed to help professionals engaged in preparing, analyzing, and interpreting financial information prepared in accordance with the Hong Kong Financial Reporting Framework. The book provides clear and practical guidance on the application of those standards in context with the regulatory and economic environment of Hong Kong (February 2008).
- Frank Hydoski, Director of the Deloitte U.S. Firms'* Forensic Center and former Chief of Forensics for the Oil-for-Food investigations, published the article " Is Bribery an Inevitable 'Victimless Crime," arguing that a multifaceted approach including more thoughtfully designed and administered programs, appropriate application of audits and investigations, and a commitment to shun bribery by all involved will prove more effective in curbing corruption (May 2008).
- Deloitte Australia offered a podcast on " International bribery and corruption" on its corporate web site (February 2008).
- Deloitte U.S Firms* issued the publication " "Understanding the Foreign Corrupt Practices Act: How to do business overseas without compromising your business" (June 2008).
- Deloitte UK published the point of view " Financial Crime – Raising the bar," discussing the cost of financial crime and whether financial institutions should be working more closely together to address it (April 2008).
- Deloitte China published the report " Anti-fraud program and control," providing examples and considerations for management and auditors with respect to the risk of fraud and antifraud programs and controls (September 2007).
- Deloitte Canada published a guide to effective crisis management outlining the major areas of exposure and the vital first steps, and establishing essential competencies for each of six critical threats: intellectual property theft, corporate fraud, money laundering, foreign corruption, disputes, and corporate restructuring.
- Deloitte Australia has developed podcasts focusing on various aspects of bribery and corruption that are available to clients via the Deloitte Australia web site.
*As used in this reporting, "Deloitte U.S. Firms" means Deloitte LLP and its subsidiaries.
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