United Kingdom

Details

  • Service: Advisory, Risk Consulting
  • Type: Business and industry issue
  • Date: 26/10/2010

AB&C = Anti-Bribery and Corruption 

Ensuring that companies have anti-bribery and corruption (AB&C) compliance programmes in place can assist them in turning this risk into advantage by helping them to build a sustainable business.

Since 1 July 2011, the UK Bribery Act 2010 (the 'Act') has come into force and, "this Act is far easier to fall foul of than previous laws - even when a company has had no corrupt intent”. 

 

The UK Bribery Act is one of the most "draconian” pieces of legislation to be passed in recent years.  Do you know how far-reaching its implications actually are?

 

KPMG in the UK surveyed the readiness of FTSE100 companies in August 2009 and found the following.

 

  • Almost half had no anti-bribery and corruption programme in place.
  • Two thirds stated that it was not possible to do business in some countries without being involved in bribery. Yet only one third of those had stopped doing business in those countries.

 

There is light at the end of the tunnel. Indeed, the Act may prove to be a blessing in disguise (PDF 957 KB). At the very heart of the Act is the UK government's wish to galvanise organisations into a fairer, and altogether more cohesive, way of doing business. Enforcing a strict defence policy for firms that have "adequate procedures in place to prevent bribery" may well ensure this wish becomes reality.

Draft Consultation Paper for the UK Bribery Act's 'Adequate Procedures'

The Ministry of Justice (MoJ) have now released a draft consultation paper to assist in understanding what the Bribery Act refers to as 'adequate procedures'.

Adequate Procedures Report - Blessing in Disguise

To help clarify the AB&C policies, we have produced a wide-ranging report on the Bribery Act 2010 and its many implications, called Blessing in Disguise.

Getting to Know Your AB&C's

Through this link you will find all you need to know about the Bribery Act in a concise, 60-second guide to your AB&C's.

Why KPMG?

  • We can help clients turn business risk into long-term advantages for corporate culture and control by building a sustainable, transparent business.
  • We advise, and sit on, working groups which shape policy in this area.
 

Contact

Charlie PatrickCharlie Patrick

Director

KPMG in the UK

 

020 7694 5470

Email Charlie

Global anti-bribery and corruption survey 2011

 

Despite the introduction of tough new corruption laws in the form of the Bribery Act, the majority of U.K. compliance executives say bribery and corruption remains part of doing business in some countries