Australia

Details

  • Service: Advisory, Risk Consulting, Forensic, Topics, Anti-Bribery & Corruption
  • Type: Business and industry issue
  • Date: 7/07/2011

Gary Gill

Gary Gill
Partner in Charge, Forensic

+61 2 9335 7312

ggill@kpmg.com.au

David Luijerink

David Luijerink
Partner, Forensic

+61 2 9455 9533

dluijerink@kpmg.com.au

Avoiding the cost and embarrassment of bribery and corruption entanglements 

Many companies are unaware of their vulnerability to prosecution under both local and foreign anti-bribery and corruption laws. It can be a serious gap in their risk management and governance models.
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Businesses operating overseas, or engaging in any kind of business activity beyond Australian shores, should review their vulnerability to legal sanctions designed to curb bribery and other corrupt behaviour here and abroad. CEOs and boards often underestimate their exposures to this kind of risk.

Key insights

  • Companies need to think very hard about where they do business and the kinds of activities that take place in name.
  • Companies that comply with the UK anti-bribery laws will be well placed to satisfy AB&C law elsewhere.
  • Implementing adequate procedures to prevent bribery can act as a principal defence against bribery and corruption charges in the UK.
     

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    This article was first published on ceoforum.com.au

 

Anti-bribery and corruption

Anti-Bribery & Corruption
Anti-bribery and corruption are key issues for any organisation operating across International borders.

Forensic

KPMG’s forensic accounting services help prevent and detect fraud, misconduct, breaches of rules and regulations, and prevent and resolve disputes.