Details

  • Service: Audit, Advisory, Tax
  • Industry: Energy and Natural Resources, Oil and Gas
  • Date: 11/11/2015

The growing global challenge: Managing anti-bribery and corruption compliance in energy and natural resources 

Companies in the energy and natural resources (ENR) sector face an increasingly complex operating environment around the world, not least in the field of compliance – and especially in the area of anti-bribery and corruption (ABC).

As ENR companies push further into lesser known geological regions, risks proliferate and become more difficult to measure. Companies are continuing to expand into a growing number of countries whose politics and societies make it exceedingly difficult to calibrate an effective ABC compliance framework. Falling commodity prices have exacerbated the challenges faced by compliance functions as they compete with other parts of the business for scarce funding.

 

Recognizing the magnitude of ABC challenges, KPMG conducted a survey of 659 executives in a range of functions and industries from around the world. The findings presented in this report are taken from the responses of: the oil & gas industry; the ENR sector including mining; and all 659 executives.