Effective monitoring is a key recommendation made consistently by regulators and experts in the area of anti-bribery and corruption.Companies with weak monitoring procedures not only face the risk that bribery will occur. They also face the risk of a weakened defence when brought before the authorities.
With so many ways to collate feedback from employees on unethical practices, ignorance is no excuse. Perhaps for this reason, the market is full of innovative whistleblowing solutions, allowing companies to gather data on the concerns of their workforce around the world 365 days a year.
Many companies are now choosing to share this data as part of their public reporting.There is, even so, no other business area where the gap between ‘good’ and ‘bad’ companies is more obvious.Almost three quarters (72%) of the companies in the bottom quartile of GoodCorporation’s assessment database have no whistleblowing processes at all.
This contravenes corporate governance guidelines, such as the OECD Guidelines for Multinational Enterprises, not to mention various regulatory requirements all over the world. With so many solutions on offer, companies whose reporting and monitoring systems are still inadequate have been facing some challenging questions.
As part of the Pearl Initiative’s Combating Corruption series, this webinar will examine some of those questions. It will analyse data from over 100 on-site anti-bribery and corruption assessments, in which more than 7,000 business practices have been put to the test.
From this data, we will identify why certain companies are still lagging behind in this crucial area, and how they can succeed.
The following issues will be discussed in detail:
- How to assess bribery and corruption controls
- The role of whistleblowing in global anti-bribery and corruption laws
- Data from over 100 on-site assessments, showing how well companies are monitoring themselves in the area of anti-bribery and corruption compliance
- Examples of companies who have failed to monitor themselves