Kenneth Guillame, Big4.com Staff Reporter

Since the United Nations Convention Against Corruption (UNCAC) on October 31, 2003, International Anti-Corruption Day is being celebrated on December 9 on an annual basis. PricewaterhouseCoopers is also demonstrating its support for anti-corruption and anti-bribery initiatives by commemorating this day.

The PwC-sponsored Transparency International Anti-corruption Day Symposium on December 9 at the National Press Club was opened by US Secretary of State Hillary Clinton. She was also joined by U.S. Secretary of Commerce Gary Locke, Secretary General of the OECD Angel Gurria, and the U.S. Representative to the OECD Ambassador Karen Kornbluh.
Talking about the importance of transparency at home and across the globe, Hillary Clinton said, "As we work together to eradicate corruption in our own countries, we should also maintain the highest standards of transparency and accountability in our development efforts around the world. Corruption in emerging markets and fragile democracies undermines the confidence of citizens and investors alike, while responsible governance helps to foster sustainable economic development and political stability."

PwC reported that two-thirds of global companies have faced corruption in some form and 45% of companies worldwide have avoided business expansion in certain areas in order to avoid corruption risks. “PricewaterhouseCoopers is at the forefront of providing organizations with customized and tested enterprise-wide anti-corruption solutions and we strongly emphasize the need to take robust collective action to combat corruption now,” said Glenn Ware, anti-corruption specialist and managing director in PricewaterhouseCoopers Forensic Services practice. He also added that, "Both companies and governments need rigorous anti-corruption programs. Corruption in countries discourages investment and makes it difficult for companies to compete on an ethical basis"

PwC has been actively involved in anti-corruption programs round the globe. They are currently assisting the Kurdistan Regional Government (KRG) in Iraq to start a new governance strategy that will encourage transparency, combat corruption, and improve overall efficiency of the government.

David Jansen, anti-corruption specialist and principal at PwC said, “No organization is immune to corruption. Even a single incident of corruption can lead to irreparable economic hardship and reputational damage that may adversely affect the overall stability and competitiveness of any business or government. Implementing an effective anti-corruption compliance program with strong training and detection capabilities allows organizations to more closely and effectively avoid risks.”