What is the business value to doing the right thing on corruption and anti-bribery programmes?
To reach the business-minded, it would be helpful to have some hard figures.
1. The cost of corruption for companies 2. Deterrents 3. Incentives for acting with integrity 4. References
Awareness about corporate integrity is growing as concern about the impact of corruption in the private sector spreads. Going beyond the moral argument, there are strong incentives for companies to embark on effective anti-corruption programmes as a way to mitigate the reputational, legal, operational and financial risks of corruption.
There is also a strong business case for fighting corruption. Taking into account the cost of bribery and sanctions for bribery, the potential impact of internal fraud and of reputational damages, corruption carries a high cost for businesses. In terms of potential gains, companies complying with anti-corruption regulations and engaging in the fight against corruption can reduce corruption related risks, avoid or reduce legal sanctions linked to a corruption case, obtain tax credits and benefit from financial and commercial gains. Anti-corruption is an important factor for companies in their business relationships and an increasingly important criterion for investors, young talent and consumers.
Sofia Wickberg, Transparency International, email@example.com