The level of fraud, bribery and corruption has increased since the economic downturn according to 28 per cent of Irish respondents to a new survey. This compares to 16 per cent in Western Europe.
Ernst & Young's 2012 Global Fraud Survey also revealed that more than 20 per cent of Irish respondents believe that bribery occurs widely in Ireland. This compares to more than a third of the global respondents who view bribery as widespread in their country.
Fifty-six per cent of Western European respondents believe that people are penalised for breaching their company’s internal policies. However, only 28 per cent of Ireland respondents consider this the case.
“Advances have been made by Irish companies in establishing frameworks and fraud related policies and procedures,” said Julie Fenton, partner and head of Ernst & Young’s Fraud Investigation & Disputes Services practice in Ireland.
"In 2011, 60 per cent of respondent's believed senior management strongly communicated its commitment to anti-bribery and corruption policies. This figure increased by 20 per cent in 2012. However, there is still work to be done by companies in being seen to follow through on the tone from the top."
More than 1700 executives across 43 countries, including CFO’s, heads of legal and internal audit participated in the survey for their views of fraud, bribery and corruption.
