AUSTRALIA
is immersed in a region with high levels of corruption and companies are not
doing enough to combat the problem, research shows.
Corruption watchdog Transparency International
yesterday released data showing that more than two-thirds of countries in the
Asia-Pacific region - where many Australian companies do business - were
perceived as more corrupt than clean.
''We've got to be on our guard all the time,''
Transparency International Australia executive director Michael Ahrens said.
''The lesson from this annual survey is that every Australian business
operating in these risky countries must have in place adequate procedures to
deal with this challenge.''
But a survey of senior Australian executives
released last week by law firm Baker & McKenzie found that Australian
companies were lagging behind global anti-bribery standards. More than
three-quarters of respondents said they engaged intermediaries overseas and
those from the pharmaceuticals and healthcare sector most often reported that
they were at extremely high risk of corruption.
Research commissioned by the Australian
Council of Superannuation Investors and released in October found that 126 of
the top ASX200 companies were exposed to high-risk sectors or countries. More
than 40 per cent failed to publish a policy banning bribery or facilitation
payments, lagging behind international peers such as the US and Britain.
The report said shareholders should be
concerned.
''In the current environment, the chances of
an ASX200 company with international operations, no stated anti-bribery policy,
and/or inadequate anti-bribery management controls becoming embroiled in
another large-scale corruption scandal over the next five years appear to be
substantial.''
But the survey shows the Reserve Bank of
Australia scandal has not affected Australia's clean rating.
Australia maintained its position as the
country with the eighth lowest levels of perceived corruption out of 183
surveyed.
New Zealand climbed to first over last year's
top-ranked Denmark. Somalia is ranked last again. North Korea, which has been
measured for the first time this year, was second worst and Burma third worst.
Maris Beck
The Age
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