Internal Auditors Should Understand the UK Bribery Act Even If They Are Not in the UK

Auditors should understand that companies are subject to the provisions of the UK Bribery Act if they have operations in the UK or their employees or agents have significant ties to the UK.

It doesn't take long to read the Act or the guidance from the UK Ministry of Justice. I suggest checking out some of the guidance from the accounting firms. KPMG, E&Y, Deloitte, and PwC have all made materials available.

KPMG also reported (see my post here) that 80% of those responsible for this aspect of compliance at US companies, and 32% at UK companies, have little or no knowledge of the Act.

This is a problem and internal auditors can step in to make sure management hsa the necessary knowledge and is taking the appropriate actions.

Posted on Jun 6, 2011 by Norman Marks

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