The poll of 50 procurement managers and directors also reveals that, of the companies which have heard of the Bribery Act, some 52% vet suppliers to see if compliance with the legislation is met.
The region with the lowest awareness rate is the North of England, with 78% unaware of the Act. Some 72% in the South of England and 67% in Scotland are also unaware.
John Smart, partner at Ernst & Young said: "We shouldn't need to wait for a company to be fined under the Act before we are spurred into taking the appropriate precautions to manage bribery risk.
"A robust review of the supply chain should be a key focus for businesses, as proper processes for vetting suppliers is required under the legislation."