Concerns Raised Over Efforts To Tackle Bribery In Asia-Pacific Region

EY Report Highlights Need For Further Work To Address Issue

11.10.2013

A new survey released by Ernst and Young (EY) has suggested that disparity on policy, enforcement and execution is having a significant impact on the ongoing efforts to tackle fraud and bribery in the Asia-Pacific region.

The report from the global professional services firm revealed that while 48 per cent of executives working for companies in the region which have anti-bribery and corruption policies believe they are good in principle, they do not believe they work well in practice.

It also revealed that just 40 per cent of respondents overall stated their company has a policy in place on bribery, which puts the region well behind other regions in that regard.

The survey also found that 19 per cent of respondents believe bribery and corrupt practices have increased, with EY also warning that a disconnect may be emerging with many companies being under the illusion they are addressing the issue when in reality they remain exposed to risks.

Carried out from March to May this year, the EY Asia-Pacific Fraud Survey polled over 600 staff and executives from countries including Australia, China, Indonesia and New Zealand.