Pressure Builds to Stop Bribery and Corruption in Companies; FINANCE

The Birmingham Post (England), February 4, 2009 | Go to article overview

Pressure Builds to Stop Bribery and Corruption in Companies; FINANCE


The UK is under pressure to get its act together on fraud and anti-competitive practices, David Liddell, a forensic partner at the Birmingham office of PKF Accountants and business advisers has warned.

And that means companies will need to be extra vigilant in ensuring they stay on the right side of the law because it is all too easy, even inadvertently, to slip up.

Mr Liddell said: "Construction and pharmaceutical companies have been accused of price fixing; defence companies have been investigated for bribery; oil companies have faced charges of sanction busting.

"Anti-competitive practices, including bribery and corruption, can be found in all sectors of the economy, in any part of the world. And thanks to improved organisation and funding, combined with significant political support, the anticorruption drive in the UK has new direction and focus - particularly with the coming re-launch of the Serious Fraud Office this April."

He went on: "Businesses need to ensure they have assessed the risk and have procedures in place to investigate, and defend, their own practices.

"Businesses expect to compete against one another - for contracts, for resources from suppliers, for employees. …

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Pressure Builds to Stop Bribery and Corruption in Companies; FINANCE
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