ATHENS: According to an Ernst & Young global survey, the pressure for increased revenue and international expansion feeds the growth of fraud and corruption in business.
The survey revealed that 69% of respondents (51% average) indicate that the corruption in Greece is extensive, while 67% believe that their business administration’s are under pressure to increase revenue (57% average). Just 15% of companies believe that corruption cases and corruption prevention policies make them less competitive (20% average) and 57% believe that companies often report fictitiously increased economic performance (37% average).
The survey also showed encouraging signs that a growing number of companies are adopting codes of conduct and anti-corruption policies, amounting to a total of 65%, and that the administrations have focused on the importance of meeting high ethical standards in their business activities in the last two years (49%).
One in three respondents (33%) believe that Greek companies’ ethical standards have improved in the past two years, while the number of Greeks who believe that corruption in the form of gifts, cash or entertainment may be justified as a means of company survival, is much higher than the global average.
