PwC noted the strengthening of the fight against corruption in Russian companies in 2017

© Fotolia / EMPACK money. Archival photoPwC noted the strengthening of the fight against corruption in Russian companies in 2017© Fotolia / SemA

Russian companies in 2017 improved compliance with anti-corruption legislation: the index of corruption (Anti-Bribery and Anti-Corruption Index, ABCI), rose to 68% from 64%, according to the research of the international consulting company PwC.

The index measures the level of compliance by Russian companies with the requirements of anti-corruption legislation. The study is based on publicly available information and assesses the measures taken by major Russian companies. PwC conducted an analysis of 125 companies from the following industries: telecommunications, retail and consumer goods, financial services, automotive, energy sector, mining and metallurgy, and pharmaceuticals.

«The growth of the index contributed to raising awareness about the benefits of a compliance program, reducing the number of negative publications and the further implementation of compliance procedures leading Russian companies. The highest growth demonstrated index of leading sector: telecommunications and the pharmaceutical industry», — said the partner of the practice of forensic (services for the investigation of financial fraud and fraud — ed.) in PwC Russia Roy Mueller.

Thus, according to him, companies with Russian capital have also improved the index of corruption to 66% (an increase of three percentage points) and reduced the backlog from subsidiaries of foreign companies with an indicator of 68% (an increase of one percentage point).

The highest index growth of up to 72% — showed pharmaceutical companies, whose rate in 2016 was 65%. Telecommunications companies index has improved to 86% from 80%.

The results of the survey show that the majority of companies (97%) carry out audits of their business partners, but only half of respondents believe the current verification system is effective (51%). The main recommendations of respondents for improvement of the system for verification of contractors associated with the automation software in these purposes yet uses only 8% of respondents.