Get corruption under control(s)

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According to PwC’s 2016 Global Economic Crime Survey, a quarter of all global organizations believe they will be victimized by bribery and corruption over the next 24 months. Regulators seem to be on the same page: most are stepping up their anti-corruption enforcement efforts — and scrutinizing companies’ internal controls.

So how do you raise your Compliance IQ and detect and prevent corruption… before it begins?

Anti-corruption internal controls may be the least understood area of compliance, which can put a company in a dangerous situation.

Anti-corruption internal controls may be the least understood area of compliance. There’s still some confusion about how they differ from, say, internal controls over financial reporting. In a world where both bribery and enforcement are intensifying, this lack of clarity can put a company in a dangerous situation.

Corruption takes root where business processes are weak. But you can plug those leaks by setting up internal controls in three strategic areas — vendors, customers and employees.

Corruption can take root where business processes are weak. But you can plug those leaks by setting up robust internal controls in three strategic areas — vendor selection, due diligence and contracting; vetting new customers and cash practices; and employee, payroll and expense reimbursements.

 

How does PwC help your service or sector?

Find out how our Forensics teams can help you address the challenge of corruption from every angle across the fast-changing global threat and regulatory landscape.

 

Contact us

James Gargas

Director, Forensics, PwC US

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