An independent report by Deloitte has revealed New Zealand isn’t free from corruption.
A Deloitte survey has shown almost a quarter of public and private organisations have experienced domestic corruption in the last 5 years, more than half occurred in the last year.
Deloitte lead forensics partner Barry Jordan said there was no excuse for complacency.
“Apart from the legal ramifications, which can include heavy fines or even jail time, the long term reputational damage from corruption can have serious long term flow on effects on an organisation’s bottom line,” he said.
No industry was immune, with every sectors experiencing at least some reported incidents.
The most common types of corruption included undisclosed conflicts of interest, supplier kickbacks and personal favours.
They were mostly uncovered through management reviews, internal controls and tip-offs from employees.
In larger organisations with more than 5000 employees, dedicated hotlines for tip-offs were the most effective, which Jordan said highlighted the importance of having such a facility in place… read more
“Screw you NZ”
Also in today’s news, Victor Cattermole, a businessman involved in the Christchurch rebuild has been quoted as saying “Screw NZ”
“I’m going to pack up all my business and I’ll move away. I’m not going to invest any more time, money, create any jobs or invest in this country. I’ve had a gutsful of people like you.”
The attitude of Christchurch was a “sad, sad indictment of what used to be a great country”, he said…read more
Cattermole, born and raised in Christchurch, is also a consumer advocate for people with quake damaged properties.
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