KPMG Forensic published its 2008 Anti-bribery and Anti-corruption Survey. KPMG surveyed 103 U.S. executives in the summer of 2008.
At a time when bribery and corruption prosecutions and enforcement actions are on the rise across the globe, the results of a new KPMG LLP survey suggest that multinational organizations based in the United States continue to be challenged by a number of key issues, which, if addressed, could lower the risk of violating the Foreign Corrupt Practices Act (FCPA) and other global anti-bribery and anti-corruption standards. The survey, conducted in summer 2008, found that although 85 percent of the respondents reported having an FCPA compliance program, many struggled with fundamental elements, including:
• Performing effective due diligence on foreign agents/third parties (cited as challenging by 82 percent of respondents)
• Auditing third parties for compliance (cited as challenging by 76 percent of respondents)
• Performing due diligence during merger and acquisition (M&A) activities (cited as challenging by 73 percent of respondents).