Mid-market lacks Bribery Act knowledge, says Ernst & Young

An Ernst & Young report has revealed that 64% of mid-market British businesses are still unaware of the UK Bribery Act.

Mid-market lacks Bribery Act knowledge, says Ernst & Young
Mid-market lacks Bribery Act knowledge, says Ernst & Young
Conducted by Ernst & Young's Fraud, Investigations and Disputes team, the study reveals that larger businesses with a turnover in excess of £50m are more aware of the law.

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."

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