Augmenting individual accountability could deter future fraud, bribery and corruption risks

Today, the global business environment is clamouring for enhanced transparency at a time of increased geopolitical tensions and heightened volatility in financial markets. The escalating threats of cybercrime, terrorist financing and, more recently, the revelations regarding widespread possible misuse of offshore jurisdictions, have increased pressure on Governments to act and companies to identify and mitigate fraud, bribery and corruption issues. Regulators recognize the threat that bribery and corruption pose to a financial system already under stress and are increasingly cooperating across borders to hold individuals accountable for illegal acts.

EY’s 14th Global Fraud Survey 2016, titled – “Corporate misconduct – individual consequences” unveils the current global sentiment with regard to fraud and corruption

The Indian landscape

Here is a quick comparative of key survey findings garnered from the India region:GFIS 2016

Individual accountability in the spotlight

A majority of Indian respondents are aligned to the evolved sentiment that individual prosecutions will help deter such instances in the future, which is almost at par with the global perspective.Support-for-Prosecuting-individual-executives

Click here to download the full report.

Follow @EY_India and track #EYForensic for regular updates

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