The methodology of analysis and assessment of risk for corruption in the company operations

Abstract

The complexity, diversity and constant changing of many forms of corruption in the economy imply the existence of the risk that corrupt practices with adverse impact on the operations of the company may not be timely detected and prevented. Although it is widely accepted that the judicial and police authorities, through their repressive actions, represent the first pillar of defense in detecting the above mentioned social anomaly, one should not ignore the fact that the management structures of the companies play an important role in this domain, first and foremost through assessing the risk of corruption in the company’s operations and implementing the appropriate internal control systems. Based on former theoretical and practical experiences, this paper discusses an appropriate methodological approach that provides answers to questions of who within the company, when, how, and why, assesses the risk of corrupt action occurrences.

Keywords

• methodology
• analysis
• assessment
• risk
• corruption
• control
• company