In a joint effort with Compliance Week, Kroll has released the 2014 Anti-Bribery and Corruption Benchmarking (ABC) Report. Using data from 187 respondents, the report describes the current state of anti-bribery and corruption programs and highlights issues that continue to challenge companies.
The report reveals:
- Discrepancies in the way large, U.S. companies and small and/or overseas companies perceive their risks and pursue anti-bribery and corruption efforts;
- A lack of attention paid to third-party training; and
- While attention is paid to the vetting process for third parties before a contract is signed, there is only limited monitoring of third party performance once the relationship is in place.
Respondents reported working with an average of 3,868 third parties; and 58% of those respondents reported never training them in anti-corruption. This number is higher than the 47% who reported in last years’ survey that they did not do any training of third parties.
Kroll’s New York managing director Lonnie Keen said of the issue, “It’s amazing in this day and age, given the importance and the focus on anti-bribery and anti-corruption, that 58.3 percent would say they never train their third parties.”
Respondents furthermore demonstrated a “vet it and forget it” mentality in dealing with third parties, reporting more confidence in vetting procedures than in regular monitoring.
Effectively addressing bribery and corruption requires both the training of third parties, so they understand and know how to follow your anti-corruption policies, and the careful monitoring of those parties post-contract to ensure that they are actually doing so.
Download the original report here.