Executive Briefings

Corruption Continues to Be Growth Business, Survey Says

Bribery scandals have dominated headlines in several countries in recent months, among them India and Nigeria. International enforcement of anti-bribery laws has been increasing in the United States and major European countries.

A new survey of corporate officials and employees in 36 countries in Europe, Africa, India and the Middle East indicates that there is plenty of corruption that needs investigating.

Over all, 20 percent of the respondents said they knew of incidents at their own companies within the previous year that could be construed as cooking the books "” moves to either understate expenses or overstate revenue. Among senior managers and directors, the figure was 42 percent.

The survey was conducted late last year by Ipsos, a market research firm, on behalf of Ernst & Young, a major accounting firm.

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A new survey of corporate officials and employees in 36 countries in Europe, Africa, India and the Middle East indicates that there is plenty of corruption that needs investigating.

Over all, 20 percent of the respondents said they knew of incidents at their own companies within the previous year that could be construed as cooking the books "” moves to either understate expenses or overstate revenue. Among senior managers and directors, the figure was 42 percent.

The survey was conducted late last year by Ipsos, a market research firm, on behalf of Ernst & Young, a major accounting firm.

Read Full Article