Growth and profitability have been at the crux of the corporate agenda and defined the way businesses function. Companies have nevertheless encountered challenges while trying to achieve these goals, which have inevitably required them to sometimes ‘work around the way of the land’. For instance, it is a common concern that in certain regions or … More Profitability or integrity? Why not both?
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.
India has been at the centre of conversations across the globe, and the new Government seems to have brought in a noticeable change in terms of regulatory dynamics. In the quest to truly redefine India’s appeal factor and make it an attractive investment destination, the Government has been treading a path of reform. The objective … More Confronting corruption – the changing dynamics
The dependency on third parties to enable easy functioning of business is immense. Companies engage the services of various third parties for multiple reasons – it could vary from getting a factory license, securing permission to even obtaining contracts. But the risks associated with such sub-contracting are not given enough importance.
Efforts to dodge regulations and policies that characterized the now defunct ‘License Raj’ have rendered India susceptible to widespread corruption. According to the EY Global Fraud Survey 2014, 68% of respondents agreed that bribery and corruption are rampant in Indian companies. The public interest in changing the status quo around corruption has increased significantly. The … More Battling the malaise of corruption
‘Recently, EY hosted a session in New Delhi on “Mechanisms for tackling corruption” where we had a thought provoking debate on the state of fraud, bribery and corruption in India. Mr. P.C. Sharma, former Director with the CBI and former member at the National Human Rights Commission led the session, engaging in a stimulating discussion … More Tackling corruption in India
Of late, the corporate sector is abuzz with the need for an effective compliance and ethics programs due to the rise in the number of frauds and consequent regulatory actions. Numerous policies around anti-corruption, whistleblowing and ethics code attempt to ensure compliance with the changing legal environment. But is mere drafting of policies good enough … More Tone at the Top: The foundation of an effective compliance program