Economic integrity

Jennifer Quartana Guethoff, Deloitte Global Deputy Chief Ethics Officer, participates in a break-out discussion on the role of third-party due diligence in helping corporations fight corruption at the World Economic Forum's Partnering Against Corruption Initiative (PACI) Task Force meeting. October 2012, Geneva, Switzerland.

Committed to fighting against corruption

Buying contracts. Bribing customs authorities through agents. Lavishly entertaining government officials. Ignoring violations and compliance requirements. Corruption takes many forms and permeates business and industry in many parts of the world.

"No country is immune to the corrosive effects of corruption, but in some places it is so endemic that it harms the lives of ordinary citizens and makes it impossible to maintain a level playing field for business," says Steve Almond, Chairman of the DTTL Board. "Tackling corruption would help enable companies to compete on equal terms and in accordance with their declared value statements, help restore public trust, and benefit consumers and society at large."

Corruption drains resources, erodes the integrity of markets, increases the cost of capital, and reduces the benefits of globalization for industrialized and developing countries alike. Further, it is immoral and just plain wrong.

For these reasons, Deloitte supports compliance functions, internal controls, and robust training that help organizations recognize and resist corruption, and confront it quickly when it is identified. We also promote principles that raise business standards and contribute to a transparent and accountable global market. We do this through the services member firms provide to clients worldwide and by working alongside government, civil society, clients, and other businesses to collectively influence public policy and develop solutions that help fight corruption on the ground in local markets.

Seeking solutions

The first Anti-Corruption Academy took place on 7 March 2013 in Bogotá, Colombia. Approximately 100 board directors and senior compliance officers attended. The Academy is sponsored by the Global Center for Corporate Governance and supported by Deloitte Financial Advisory Services LLP (Deloitte U.S.)

As part of that effort, we recently created our own Anti-Corruption Academy within the Deloitte Global Center for Corporate Governance, with support from member firms' Financial Advisory practices. The Academy works with member firm governance centers and their anti-corruption and public-policy experts to provide education and training on combating corruption, money laundering, and fraud; and to build effective compliance and internal-control programs.

"We developed the Academy as a vehicle for unfettered dialogue about challenges faced by multinational corporations operating in markets at risk for corrupt business behavior and to provide a forum for collective action in addressing both the 'supply' and 'demand' sides of corruption and money laundering," says Dan Konigsburg, Deloitte Global Corporate Governance and Public Policy Leader.

The first Academy took place on 7 March 2013 in Bogota, Colombia. Approximately 100 board directors and senior compliance officers attended. Nina Gross, Academy Leader and Director, Deloitte Financial Advisory Services LLP (Deloitte U.S.), who helped launch the Academy in Bogota, notes, "Through the Academy, Deloitte is able to engage decision makers and add our voice to the debate."

Engaging others

We also are highly involved in a number of other anti-corruption initiatives. These include efforts driven by the Business 20 (B20)—the business advisory group to the G20 leaders, the World Economic Forum's Partnering Against Corruption Initiative (PACI) and its Global Agenda Council, the Business and Industry Advisory Committee to the OECD, and the UN Global Compact. In addition, we're engaged in anti-corruption tool and guideline development for companies, and pro bono support to industry groups in this space.

"We appreciate the global leadership and efforts of organizations, like Deloitte, that have made a strong commitment to ethics, integrity, and transparency in business," says Elaine Dezenski, Senior Director and Head of the Partnering Against Corruption Initiative. "Corruption is a global problem that may never be eliminated. But, there are many private/public partnerships that are making a difference in creating a true level playing field."