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The International Economy

Anka Heynicke

on 26 April 2013

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Transcript of Corruption

Policy Briefing Corruption in International Cooperations Current State of Affairs costs of corruption are 5% of global GDP
costs of doing business are 10% higher
different corruption levels are equal to a 20% tax on foreign sdsdsd

7/ 10 executives believe there are places where business without corruption is impossible
43% of them believe they failed to win business because competitors paid a bribe Internal Policy Recommendations Develop stand-alone anti-corruption program

Conduct internal special anti-corruption audits
Promote internationally accepted accounting and auditing standards Effects of Compliance individual financial benefits
overall trust in business

economic financial benefits

Conclusion: Businesses in the private sector are in the unique position to fight corruption and increase international business relations and economic efficiency. External Policy Recommendations Conduct Due Diligence on third parties

Manage corruption risk in developing markets

Collaborate with authorities
Any questions? Applies to all multinational companies regardless the location of their headquarters. Source: Transparency International This will pay back financially and ethnically as well as increase further investments.
Full transcript