In recent weeks, various news articles have highlighted corporate exposure to executives engaging in misconduct. From EY, KPMG and Deloitte, to Ethisphere and Kroll corruption surveys, the published reports all affirm bribery and corruption risk continues to confound many companies.
A talking point of visitors to our stand at CeBIT, was technology enabled record keeping for internal and external meetings. The conversation by some sectors was the requirement to register all customer/supplier meetings with well-kept minutes to serve as a record of discussions, actions, any conflicts and decisions made.
To summarise some of the highlights of the research:
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32% of respondents globally and 25% in Australia reported that they have had personal concerns about bribery and corruption in their own workplace.
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a quarter of the Australian respondents admitted they could justify unethical behaviour to meet financial targets.
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the most common types of corruption were undisclosed conflicts of interest, supplier kickback and personal favours
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47% of respondents noted that their company leadership is “highly engaged” in anti-bribery and corruption efforts
Companies clearly face a battle to lower corruption and assert acceptable business culture. Good corporate governance is vital and central to this. With the heightened need for transparency and record keeping, embracing smart software to accompany rules, policies, procedures and systems may be a more holistic approach for businesses, government bodies and organisations alike.
Minute-it manages your meetings, minutes and actions in one secure space, and is now free to users signing up to our individual plan.