‘77% of board members justify unethical business behaviour’

Seventy seven per cent of board members or senior managers say they can justify unethical behaviour to help a business survive, a new fraud report has found. Despite the sporadic progress in tackling bribery and corruption across Europe, the Middle East, India and Africa, 51 per cent of respondents to the biennial EY EMEIA Fraud Survey still perceived the problem to be widespread in their countries.

The report surveyed 4,100 employees from large businesses in 41 countries including Nigeria. The survey found out that senior management staff members were failing to set the right tone on business ethics.

According to the report, 27 per cent of all respondents state that it is common practice in their business sector to use bribery to win contracts. Only 21 per cent of respondents are aware their company has a whistle-blowing hotline.