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Executives know corruption when they see it--they just don't know how to prevent it

While nearly two-thirds of 390 C-suite and board-level executives in 90 countries interviewed by PricewaterhouseCoopers LLP acknowledged having witnessed evidence of some form of corruption on their watch, only 22% expressed confidence that the risk management programs that their companies have in place are effective when it comes to identifying...

By Staff Writer | Updated on February 19, 2008

While nearly two-thirds of 390 C-suite and board-level executives in 90 countries interviewed by PricewaterhouseCoopers LLP acknowledged having witnessed evidence of some form of corruption on their watch, only 22% expressed confidence that the risk management programs that their companies have in place are effective when it comes to identifying and mitigating that risk. Two problems were uncovered by the survey: The critical program element of rigorous risk assessment is more than half of the time left out of programs, and only a quarter of the executives surveyed said their companies perform pro-active risk assessment or monitoring. “Companies now have a compelling–and some might say, urgent–business case to support the development and implementation of a formal and strategic anti-corruption program,” says David Jansen, a PricewaterhouseCoopers partner.

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