More CFOs Willing to Pay Bribes

15% of global finance chiefs would pay to win or retain business, survey shows.

Fifteen percent of chief financial officers around the world are willing to make cash payments to win or retain business, according to a survey of executives interviewed by the accounting firm Ernst & Young LLP.

The firm’s annual “global fraud survey” of 400 finance chiefs, interviewed from November to February, found a greater tolerance of bribery compared with the previous year, when 9 percent said they would make cash payments. Five percent of CFOs said they would misstate financial performance, while 3 percent said that the year before, according to the survey.

1,700 Executives

While companies increased anti-bribery programs, 1,700 executives interviewed in 43 countries expressed “a certain degree of fatigue about anti-corruption compliance initiatives,” according to the survey. Aside from finance chiefs, Ernst & Young interviewed leaders in legal, compliance and audit.

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