When it comes to the issue of fraud, bribery and corruption risks, executives and boards in Asia-Pacific have been served a wake-up call. The issue is far more wide-reaching than simply financial and reputational loss.
Employees are now rating ethical practices as important in their willingness to work for or stay at a company, meaning organizations could be faced with new challenges in the war for talent.
Around 40% of respondents had seen a colleague who they believe acted unethically get promoted. And a quarter of respondents believe their colleagues do not comply with their organization’s code of conduct.
EY’s Asia-Pacific Fraud Survey 2015 entitled “Fraud and corruption – driving away talent?” found that employees are prepared to vote with their feet when it comes to speculation over fraud, with 78% of Asia‑Pacific respondents claiming that if an organization was involved in bribery and corruption, they would be unwilling to work for it.
The original article can be found at www.cfoinnovation.com