Directors fight shy of reporting internal corruption externally.

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Organisations that uncover a significant case of corruption should either wait to see whether there are serious repercussions or handle the matter internally, rather than make a voluntary disclosure to the authorities, according to 41 per cent of executives polled in a global survey by Deloitte. But 93 per cent said that an internal investigation should be conducted in such an event, while 75 per cent backed zero-tolerance anti-corruption policies with strong penalties, including dismissal, for guilty parties.

When asked to choose up to three sources that were likely to lead to changes in their anti-corruption policies, 57 per cent cited advice from internal auditors as the most likely source. "We're possibly not yet at a point where companies readily see that voluntary disclosures to the UK authorities would be in their best interests," said Nic Carrington, partner at Deloitte. "But the Serious Fraud Office has been vociferous in recent months about its new commitment to combating overseas corruption and encouraging firms to self-report. The UK seems to be moving to a more US style of...

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