To help businesses assess the effectiveness of their anti-bribery and corruption (ABC) programmes, relative to their competitors and peers, GoodCorporation has developed an ABC Benchmark which ranks anti-bribery programmes by adequacy.
The benchmark is made up of data from over 120 anti-corruption assessments comprising effectiveness tests for over 8,500 anti-bribery procedures, mainly in large international organisation.
By analysing the benchmark, GoodCorporation is able to identify which anti-corruption procedures are proving difficult to implement and where good companies are excelling. We are also able to rank companies within the benchmark.
With businesses under increasing pressure to ensure that robust anti-bribery controls are in place and properly embedded, it is vital that businesses understand the extent to which their anti-corruption measures are working. Failure to understand this can expose a company to the risk of corruption and harm their defence should prosecution occur.
Most authorities have published guidance on what is required to comply with their anti-bribery legislation, but it remains for businesses and their advisors to judge what might be considered adequate. Analysis against the GoodCorporation benchmark can provide an independent verification of adequacy. The benchmark is updated regularly to provide relevant information to assist with internal and external reviews of anti-bribery procedures.
It enables companies to provide assurances to the board, prospective clients or regulatory authorities that adequate procedures and effective compliance systems to prevent corruption are in place.
To find out more about how our ABC benchmarking can work for your business, listen to the podcast below.
90% or more of the anti-bribery procedures of organisations in the top quartile of the GoodCorporation benchmark were found to be adequate. However, in the worst performing companies, as few as 20% of the anti-corruption controls were effective. This marked disparity shows that there is a real gap emerging between those organisations that are succeeding in developing adequate procedures to prevent corruption and those that are not.
Companies that find themselves in the top quartile of our benchmark can be confident that their systems and controls are mitigating the risk of corruption. Many companies work with us to improve their procedures and move up our benchmark where their ability to demonstrate effective regulatory compliance becomes more assured.
Contact us to find out how you can be assessed against the GoodCorporation anti-corruption benchmark.
Dr Gareth Thomas
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