John Smart, head of fraud investigation at Ernst & Young says: "Companies need to understand the risks they may run if they do not make an active effort to demonstrate their willingness to abide by the Act. Whilst the Bribery Act was originally delayed, it is now just days away and the clock is ticking.
"Our recent European Fraud Survey found that one in seven
employees at large UK companies are prepared to offer cash payments
to secure business and little more than half are aware of an
anti-bribery policy at their firm, showing there is clearly very
significant ground left to be covered"
Ernst & Young recommends the following urgent steps that need to be taken in order to be compliant by July 1st:
John Smart concludes: "The training, guidance and understanding of bribery risks across companies just isn't there yet. With time running out, it is now urgent that companies look at their internal processes and take the right steps, before it is too late."