UK Bribery Act Risk Evaluation

Our experience is that Risk Managers are not always fully involved in evaluating risks of bribery and corruption. More often this critical exercise is driven by external lawyers, other advisers and compliance professionals and is directed more towards relative trivia such as facilitation payments, gifts and hospitality (in countries perceived to be corrupt) rather than the far greater exposures closer to home.

Our study of corruption and related risks with a UK public company was based on a eclectic evaluation merging qualitative and quantitative tools while discounting the more emotional one dimensional approach implied by the Ministry of Justice Guide for Commercial Organisations and other regulatory suggestions.

This week we presented our findings at IIR's Annual Risk Congress in London. These indicate that - for most large companies - after acknowledging some heavy regulatory actions for bribe payment - the most significant risks are from incoming, internal and competitive corruption.

Please click HERE for an ebook version of our presentation. The quantified results summary is at page 8.

If you would like your management team to hear the presentation - in house -  please contact admin@cobasco.com.

We are more than happy for you invite your legal and other advisers (and even the SFO and MOJ) and to debate our alternative views and recommendations. Losers buy the beer!