The employees who make the purchasing decisions in your organisation may not be basing their selections on the best interests of the business. Rather than following a transparent process, employees may instead be influenced by personal benefits and relationships.
Prosecutors and regulators across the globe are increasingly active in enforcing anti-corruption legislation. The number of enforcement actions, the number of jurisdictions within which enforcement actions have been brought and the size and nature of fines and penalties have all increased significantly over the years. The largest penalty levied by the US, as widely reported, was the USD 800 million that Siemens agreed to pay to settle actions with the US Department of Justice and the Securities and Exchange Commission.
The UK Bribery Act which came into force on 1 July 2011 applies to any organisation that conducts business in the UK, including NZ businesses. This Act introduces new and more easily applied offences which are likely to see the prosecution trend continue.
Authorities across different jurisdictions are increasingly sharing information and bringing joint actions meaning that more than ever managing corruption risk is a regional or global issue rather than a country specific issue. Companies therefore need to regularly assess the adequacy and scope of their anti-corruption programmes in order to ensure their continued effectiveness.
You may be concerned that a particular supplier has a relationship with an employee that poses a risk to the organisation or you may be concerned that your processes are not robust enough to address the risk of bribery and corruption.
Our NZ team has first-hand experience of detecting and investigating bribery and corruption and we are supported by specialists at other Deloitte member firms who have helped some of the world’s leading companies navigate corruption risk. We can assist you with a broad range of corruption related matters, including:
- Compliance Programme implementation and assessment;
- Visual data analytics highlighting employee and supplier relationships;
- Investigations of alleged bribery or corruption;
- Transactional due diligence;
- Business intelligence and related integrity due diligence services