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News Release

Public Consultation on New Framework to Help Companies Manage Corruption

In today’s ever-tightening legal environment, companies increasingly recognize a greater need to manage the risks of bribery and corruption. A weak anti-corruption programme which fails to prevent, detect and address corruption can result in very serious legal, financial and reputation consequences. A new Draft Transparency International Framework for Voluntary Independent Assurance of Corporate Anti-Bribery Programmes has been developed by Transparency International with support from the World Economic Forum Partnering Against Corruption Initiative (PACI) and in consultation with leading accounting firms.

The framework aims to enable companies, CEOs and board members to better manage the risks associated with corruption. The framework is subject to public consultation until 31 December 2010. It is available for download here

We look forward to receiving input from enterprises and other entities, users of information published by these enterprises and providers of assurance, such as professional services firms, legal firms, business ethics practitioners and other service providers. Equally, we encourage all stakeholders and interested parties to provide comments. Please take the time to review the framework and complete the online survey or send comments directly to the e-mail address below. See the background document for details.