Businesses around the world are under increasing pressure to ensure that robust anti-corruption controls are in place and properly embedded.
In this new webinar series, Combating Corruption, the Pearl Initiative is partnering with anti-corruption experts to discuss a new area of good (and bad) practice every week, and sharing advice to help participants stay ahead of the game.
The last session in the series looked at due diligence, and how to succeed where other companies often fail, in this notoriously complex area.
In this next session, we will cover the role of anti-bribery and corruption risk assessments. Anti-bribery and corruption risk assessments are designed to identify systematically the threats to which a company may be exposed.
A company that fails to conduct a meaningful corruption risk assessment cannot be confident that its controls are fit for purpose. And yet, an astonishing 40% of anti-bribery risk assessment procedures were found to be inadequate in a recent study conducted by GoodCorporation.
This has remained largely unchanged for the past five years, with companies showing no sign of improving. The data to be presented as part of this webinar is drawn from over 100 on-site anti-bribery and corruption assessments over the past ten years, in which more than 7,000 business practices have been put to the test.
Our session will discuss this data in detail, identifying the most common areas where companies go wrong, and examples of best practice which participants can replicate.
The following topics will be discussed:
– The changing regulatory landscape in the area of bribery and corruption – What requirements have been introduced in the area of risk assessment specifically
– Data from over 100 on-the-ground assessments, showing how well companies are meeting their risk assessment obligations
– Examples of where risk assessment systems most often fail
– Examples of best practice in the area of risk assessment
– How companies can overcome the challenges and achieve meaningful assessments of their bribery and corruption risk