Eighty-two percent of companies polled for the 2014 Dow Jones Risk & Compliance Anti-Corruption survey have anti-corruption compliance programs in place, a statistic that has held steady over the last three years.
Survey respondents were compliance professionals from 383 companies worldwide, including 80 in North America; 145 in Western Europe; 119 in Asia-Pacific; and 39 in other countries. Almost half the respondents were from the banking/finance industry (41%).
Among the key findings:
- 90% of company programs include internal codes of conduct and training for employees.
- Only 35% of companies surveyed, however, provide training for business partners, a decrease from last year’s survey.
- And while 77% of respondents reported that they did some level of due diligence on new business partners, fewer than 20% monitor business partner compliance at least on a regular basis. Only 35% said that they update their due diligence every two years.
- Reputation issues and government sanctions were the events most likely to trigger a business partner review.
Over half the respondents surveyed indicated that they have delayed or refused business due to corruption risk.