Diagnosing bribery risk

In the video below, PwC Fraud Academy chairman John Tracey is joined by fellow partner Will Kenyon and Robert Barrington of Transparency International to discuss their practical guide to bribery risk assessment which has been produced with our support. It provides specific, practical advice based on real-life experience on how to conduct an effective bribery risk assessment.

 

Transcript

Bribery and corruption are not just on the agenda of most governments and businesses, they are becoming a top priority. It is fundamental that companies must lead from top as boards and management are responsible for setting strategy and objectives as well as promoting the right culture.

Transparency International's practical guide to bribery risk assessment, “Diagnosing bribery risk” has been produced with our support. Our Forensic Services partner, Will Kenyon was the lead author of the guide that provides specific, practical advice based on real-life experience on how to conduct an effective bribery risk assessment.

Identifying and evaluating bribery risk is essential to the design and implementation of an effective anti-bribery programme. It's fundamentally a management responsibility, supported by compliance, internal audit and other functions as appropriate.

Law enforcement agencies and regulators around the world have made it clear that bribery risk assessment is the foundation of an anti-bribery programme. In the UK, risk assessment is one of the six principles enshrined in the Ministry of Justice Guidance and is also a focus of the thematic reviews carried out by the Financial Services Authority (FSA) (now the Financial Conduct Authority or FCA).

Furthermore, the Department of Justice (DOJ) and Securities and Exchanges Commission (SEC) in the US have recently published their resource guide.

The Transparency International guide includes:

  • 10 good practice principles for bribery risk assessment
  • A risk assessment template – with an illustrated documented example
  • Bribery risk assessment process check list