Transparency International: Companies Should Assess Anti-Corruption Programs

Transparency International USA recently published a report on the verification of anti-corruption compliance programs. The report states that compliance verification efforts are essential in assisting a company to assess whether it has an effective program for detecting and preventing corruption in its business practices. The report provides recommendations to improve the quality of internal anti-corruption programs and restore the confidence amongst investors, business partners and the general public regarding the effectiveness of these programs. In order to improve programs and restore credibility, companies should undertake both internal and external reviews on a regular basis, including reviews for program effectiveness in high risk locations, and publicly disclose their anti-corruption programs and their effectiveness.