Companies have little faith in action on bribery

Half of big UK public companies and one-third of large companies across
Europe believe the authorities are too reluctant to prosecute bribery cases, a
newly released survey shows.

The findings of the ‘2008 European Corporate Integrity Survey’, by compliance
consultancy group
, show concern over the issue of bribery by those responsible for
preventing corporate malpractice has increased by 14% on last year,
Accountancy Magazine reports.

The research also shows the sentences handed down are regarded too lenient
such as the two-and-a-half year sentence given to Fausto Tonna, ex-Parmalat CFO,
and the two-year suspended sentence to Loik Le Floch-Prigent, Elf chairman,
which were seen as too lenient by 67%.

Conversely, the 24 years given to Jeffery Skilling, ex-Enron CEO, and the 25
years to Bernard Ebbers, ex-WorldCom CEO, were considered too severe by 62% and
66%, respectively.

Further reading:

Accountancy Magazine story

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