Businesses are operating in a challenging environment today and management is under increased pressure to find new ways to grow ventures and augment revenues. It may not be uncommon to see that individuals take unnecessary risks and resort to fast track means in order to accelerate growth.
EY’s Europe, Middle East, India and Africa (EMEIA) Fraud Survey, Fraud and corruption – the easy option for growth? highlights that the risks related to fraud, bribery and remain widespread. Some businesses still appear to lack the basic ‘building blocks’ in place for effective compliance. However, there has been a gradual shift toward communicating management’s to anti-bribery and anti-corruption (ABAC) policies.
A snapshot of how India fared over the last two years (vis-à-vis EMEIA Fraud Survey 2013) is provided below.