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EY Study: 40% of big company employees see corruption a generalised phenomenon in Romania
Four out of ten employees of big companies in Romania consider corruption is a generalised phenomenon, as giving and receiving bribery are extensive practices in the local business environment, but the level is lower than in Eastern Europe, where it gets to 63%, while in countries with rapid development it reaches 61%, according to an EY study. Participants in the study are more optimistic about anti-corruption measures compared to the situation of the last two years, said Laura Lica-Banu, senior manager at EY Romania.
The EY study Fraud Survey, made at global level on a sample of 3,800 employees of large companies, Romania included, shows a clear link between rising companies and the strict application of conformity rules, while management can be tempted to assume risks in order to accelerate short term growth.
Respondents whose activities have known an income increase in the last two years are most probably able to evaluate their ethical standards applicable by the company as being very good, and to have or know about anti-fraud / anti-corruption policies adopted by the company and notice market operations which fulfil the same ethical standards.
The business environment in Romania is moving to the right direction. There is a more serious engagement from company managements for the communication of anti-corruption policies and special attention is granted to the reputation risk which might affect the business. Answers show the companies growing awareness to the need to adopt anti-corruption conformity programs and to monitor conflicts of interest, said Lica-Banu.
The study shows that companies in Romania started working on the elaboration of efficient conformity programs. 58% of participants in the study mentioned that anti-corruption policies had been adopted by companies or they are aware of their existence. Half of respondents consider anti-corruption instruction sessions useful and 52% say the report sent on the companies warning channel is followed by a management action toward the person who infringes anti-corruption rules.
Although not all managers at global level communicate their engagement to observe high ethical standards, participants in the Romanian market are confident in management decisions, 51% of respondents indicating that their higher management observes high ethical standards in business.
There is high pressure for companies to develop their business. The study clearly shows that an efficient conformity procedure and the right management of fraud and corruption risks will ensure business sustainability, said Burcin Atakan, CEO and leader of the fraud investigation department within EY ROmania.
On the other hand he says that proactive actions adopted by the state in the last two years have been appreciated by market players.