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Worldwide bribery risk assessment
Challenge
As a multinational company undertaking both importing and exporting activities, the generic risk of non-compliance by our client with the UK Bribery Act was high and hence their request for an independent bribery risk assessment to be undertaken.
Solution
Mazars undertook a bribery risk assessment of the client's key activities both within the UK and overseas and, from this, developed an action plan to further enhance the anti-bribery control framework. The client’s entire value chain was evaluated, including: Legal and Compliance, Finance, Production, Purchasing and Stores, Supply Chain, HR, IT, Marketing and Design Development.
Impact
Our client was able to gain a better understanding of where it was most exposed to the risk of bribery and could begin to address weaknesses in internal controls to minimise the risk of a corporate charge under the new UK Bribery Act