Thomson Reuters survey examines corporate preparedness for UK Bribery Act
One of the most comprehensive anti-bribery and corruption laws in the world takes effect next month. A new survey by Thomson Reuters Governance, Risk & Compliance says that while most UK firms are on track to meet the implementation deadline for the Bribery Act, many have not adequately prepared their most senior executives and board members for the challenges they face from the new legislation.
The survey involved more than than 400 senior compliance officers, risk managers, internal auditors, lawyers and company secretaries.
The Bribery Act is considered to be tougher legislation than similar regulations in other countries, including the U.S. Foreign and Corrupt Practices Act, The Bribery Act affects not only UK-based companies, but any organization with a UK presence, regardless of where it was formed or incorporated.
A copy of the white paper discussing the survey results can be downloaded here.