Rise In Corruption Leads to Drastic Measures In Canada: Is It The Right Solution?

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Rise In Corruption Leads to Drastic Measures In Canada: Is It The Right Solution?

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#Canada takes affirmative stand on #corruption. But does hurt their #economy and is it too much? Learn more here: http://bit.ly/1uHVO3r
Wednesday, November 26, 2014 - 12:30pm

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Pressure is mounting, as the themes of corruption and bribery are becoming major topics of discussion in global markets. With increased demands for goods and the constant bombardment of international competition entering in markets, corruption cases across the world have been increasing. Industries large and small are looking for ways to enter into government contracts for long-term deals, and as competition between industries rise, so does the growing possibilities of corruption and bribery. Canada has increased its efforts of combatting corruption by denying contracts to big named companies and suppliers who have been found guilty of corrupt practices. Penalties from a 10-year ban to a complete debarment from the country have been issued to large suppliers for their involvement in such practices. Some have even argued with such a potent penalty, this ultimately can hurt the economy, far worse than the act of corruption.

There have been many discussions on possible solutions that could potentially assist companies in clearing their cases of corruption within their organization. These solutions are meant to help understand how to avoid such acts, but as companies grow, so does their liability in controlling a seemingly uncontrollable problem. Andy Blatchford of the Canadian Press writes in his article “Anti-corruption rules on suppliers a threat to Canadian economy” corruption and anti-corruption are having the same effect on the Canadian economy, so finding a solution that enables resolve and forward progress is essential.

With much debate going back and fourth on how to deal with corruption, John Manley, president and chief executive of the Canadian council says:

“New rules don’t appear to give companies the chance to show they’ve cleaned things up or created systems to ensure that that behavior was not condoned or practiced again, or to recognize the fact that sometimes employees act outside the bounds of propriety.”

This raises an interesting point, that companies are very much against corruption and bribery acts and it is the outside 3rd party business partners or act alone agent within the company that are at fault for creating this problem. So what is the solution? Source Intelligence has taken note of industry needs and has leveled out an anti-corruption platform that allows for assessing possible vulnerabilities within company programs while benchmarking those programs with others within the same scope of industries.

Source Intelligence is also offering companies the opportunity to participate in our platform and obtain a self-assessment that benchmarks their anti-corruption program. For more information click here.  

Keywords: Responsible Business & Employee Engagement | Corruption | Education | FCPA | Innovation & Technology | Responsible Production & Consumption | Source Intelligence | Sustainable Finance & Socially Responsible Investment | anti-corruption compliance

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