Opinion: Bribery and corruption – what you need to know

Bribery and corruption risk is increasingly making its way to the top of the C-Suite agenda. The issue has received considerable media attention for some time due to the introduction of tougher bribery and corruption laws, such as the UK Bribery Act and in countries like Brazil¹, and the high level of regulatory enforcement by the US Department of Justice and Securities and Exchange Commission. More recently, the results of the Transparency International's 2013 corruption perception index reflected a perception that the risks of bribery and corruption in Australia had increased².

What are the risks?

To understand the risks an organisation needs to consider the likelihood and consequences of a bribery and corruption issue.