Corruption in the global economy is a fact. No company is immune to risk, even if it operates in what appear to be relatively 'safe' countries.
Transparency International – the global anti-corruption organisation – publishes a 'Bribe Payers Index', which identifies industry sectors most likely to bribe a public official: the Public Works Contracts and Construction sector emerges as being the most likely! This means that Engineering and Construction (E&C) companies face a disproportionately higher risk of being involved in corruption, and management need to ensure that this risk is both recognised and addressed.
This discussion paper outlines corruption issues, why it is currently a hot topic within the Engineering and construction industry, suggests a number of questions companies ought to be asking those who have the responsibility of dealing with risk and regulation within their organisations, and finally offers ways in which PricewaterhouseCoopers can assist.