Companies may cut corners to meet targets: Ernst & Young survey

Majority of respondents think that bribery and corruption is widespread in India

GN Bureau | April 21, 2016


#Ernst & Young survey   #Ernst & Young   #Corruption   #Think Tank  

(Illustration: Ashish Asthana)

A staggering 72 percent of the respondents believe that management is likely to cut corners to meet targets, said the The Global Fraud Survey by Ernst & Young. Also, 70 percent of India respondents to the survey think that bribery and corruption are widespread in the country.

Even allowing for a recent slowdown, the Indian economy continues to grow faster than many other G20 countries. However, with Indian GDP growth rates below the trend of the last decade, pressure on companies to meet expectations is rising, increasing in turn, the risk of fraud, bribery and corruption, the survey said.

It noted that although India continues to be a favored destination for foreign investment, with 71 percent of respondents to “our 2012 India Attractiveness Survey keen to invest in the country, growth opportunities are constrained by regulation and bureaucracy”.

It added that the combination of a market with significant investment potential and a high level of bureaucracy has resulted in “many seeking to bypass, accelerate or influence decisions”.

Given the extensive media coverage, it is not surprising that fraud, bribery and corruption are seen as significant risks in India.

“With fraud, bribery and corruption risk so high on the domestic and international agenda, it is essential that companies with a presence in India actively address these risks,” it said.

Comments

 

Other News

Bangladesh to get high-speed diesel from Numaligarh refinery

A sale-purchase agreement was signed between Numaligarh Refinery Limited (NRL) and Bangladesh Petroleum Corporation (BPC) for supply of high speed diesel (HSD) through the proposed 131 km Indo-Bangla friendship pipeline.    The agree

Ajay Maken fails to charm Delhi

The dismal performance of the Congress in the Municipal Corporations of Delhi elections forced party chief Ajay Maken to announce his resignation, ending an energetic effort to revive the party in the national capital.   Ajay Maken, now 53, had taken over as the chief

AAP in hot water following MCD poll debacle

The BJP’s clean sweep is not just a referendum on the Arvind Kejriwal government, but also could mark the beginning of the end of one of India’s youngest political parties, the Aam Aadmi Party (AAP). After the Bharatiya Janata Party’s massive win in the UP assembly elections, th

Will make Delhi corruption free: Manoj Tiwari after BJP win

In an interview with Governance Now after BJP’s victory in all the three municipal corporations of Delhi, Delhi BJP president Manoj Tiwari said that the focus will be on sanitation and effort will be to make Delhi free of corruption. What are BJP`s immediate goals a

NBCC to get technology from Poland for energy efficient buildings

In order to jointly promote, develop and adopt external thermal insulation and composite systems (ETICS) solutions technology in construction of highly energy efficient green buildings, NBCC (India) Limited and Bolix, SA of Poland have inked a memorandum of business exploration (MoBE).  

Shiva Sanjari talks about her documentary on the first woman filmmaker of Iran

Iranian documentary filmmaker Shiva Sanjari is known for her documentary Here the Seats are Vacant, about the first woman filmmaker of Iran. The movie was shown at the 13th International Association of Women in Radio and Television (IAWRT) Asian Women’s Film Festival.



Video

फिर खिला कमल, कांग्रेस-आप का हुआ बुरा हाल

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter