The Financial Conduct Authority, a UK regulator, confirmed guidelines that advise financial firms how to do social media promotions. The guidelines aim to ensure that British consumers fully understand the potential benefits and risks of the promoted products or services.
Employees’ reports about unethical and non-compliant incidents have gone up in the past five years. Two benchmark reports suggest how companies may interpret the numbers.
Ethical performance is an increasingly important consideration for companies, and its prominence is set to grow further over the coming years, according to new CGMA research. Though the majority of companies do have an established policy on ethical conduct, many fail to regularly communicate it to their staff.
Many companies worldwide struggle to get a handle on fraud, waste and abuse risks in the supply chain. A Deloitte fraud investigator offers seven questions that may lead accountants to breaches.
US toy and game manufacturer Hasbro has been one of the world’s most ethical companies three years in a row. Being transparent and sharing its best practices is part of its culture of ethics.
The Institute of Business Ethics has launched a free mobile phone app to provide employees with immediate guidance on a range of scenarios from accepting gifts and hospitality to facilitation payments and conflicts of interest.
Emerging markets promise rising consumer demand, but many also harbour serious corruption risks. Find out how the BRICS fare on the 2013 Corruption Perceptions Index and get the rankings for other developed and developing nations.
After years of rapid growth, economies in some emerging markets have slowed, causing companies to lower their vigilance about fraud, bribery and corruption risks, according to EY research. But there are ways to better manage these risks.
UK businesses are monitoring risks better than ever and increasing their coverage of fraud risk. However, significant challenges around data analysis, staff training and a lack of routine risk assessments remain, according to a study from Deloitte.
Threats that keep top experts and high-level leaders up at night are the risks that are beyond any one company or even one nation to handle. A report from the 2013 World Economic Forum lists the most likely ones with the biggest damage potential.
Small and mid-size companies looking for business-friendly markets overseas could check out a World Bank report that tracks regulatory reform efforts in 185 countries. Many of the top improvers are rarely found among up-and-coming economies.
When a Canadian tax credit programme came under scrutiny because of potential conflict of interest issues, the Canadian Institute of Chartered Accountants polled its members. Survey results suggest that the contingency-based fee arrangements, which attracted the attention of lawmakers, were an important tool to make the tax credit programme work.
Emerging markets have great potential for rapid growth, but corruption can run rampant. Existing processes exist to identify and mitigate corruption risks, but fewer than 40% of companies doing business in countries most prone to corruption use them well in mergers and acquisitions, with third-party agents or when establishing new operations, research shows.
A string of bribery scandals and stricter enforcement of foreign and domestic anti-corruption laws is slowly raising awareness among Australian and New Zealand companies doing business abroad that they are at risk. But many remain in total denial, according to a Deloitte survey.
A few wealthy nations stepped up efforts last year to crack down on companies that bribe foreign officials to get lucrative contracts abroad, a watchdog group reported. But most of the 39 countries that joined the crackdown launched 15 years ago have done nothing or not enough, according to the report.
North Carolina State University brings large and small companies together to talk about the enterprise risk-management programmes that fit their corporate cultures.
