RSS feedsOne in eight British business leaders admit they have paid bribes or have been involved in other corrupt dealings of the past two years, double the figures in France and Germany, according to Ernst & Young (E&Y)’s 10th biennial survey of senior executives.
The survey, which interviewed 1186 business leaders in large organisations across 33 countries, showed 13% of all UK respondents said their company had experienced at least one case of bribery or corruption in the past two years, compared to 6% in Germany and 6% in France. The global average was as high as 24%, demonstrating the increased risks of doing business outside Western Europe.
In all, 11% of UK respondents admitted their organisation had been asked to pay a bribe to retain or win business over the past two years, compared with 16% in Germany and 10% in France.
John Smart, E&Y UK head of fraud investigation and dispute services, said that, in the current environment, business leaders and board members faced daunting challenges around their compliance obligations.
‘Recommendations of best practice in anti-bribery compliance will require companies to take a much more comprehensive view of the way bribery and corruption affects their business,’ he said.
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