When considering business opportunities in the APAC region, bribery and corruption is one risk that Australian businesses often identify as a key concern. Due to the perceived risks and potentially significant adverse consequences, bribery and corruption issues are often over-weighted in Australian companies’ assessments of doing business in Asia, without understanding the actual risks involved or the controls that can be put in place. However, many Australian companies have operated highly successful businesses in Asia over long periods of time in a diversity of markets.
This Discussion Paper defines bribery and corruption in the Asian region, presents a risk management framework for Australian business and explains strategies for managing bribery and corruption incidents, with recommendations for business and government.
Tiang & Partners is pleased to contribute to this paper, which has been prepared as part of a series of short reports on specific topics identified by the Business Council of Australia and Asia Society Australia Asia Taskforce (with PwC Australia and The University of Sydney Business School as knowledge partners).
The article was first published on Asia Society’s website