Dubai PR Network, Online Press Release from Dubai and Middle East
 
Economy & Statistics(Banking & Investments)
Filter PR by
  
Less Than Half of UAE Executives have Confidence in Regulations that Prevent Fraud, Finds EY Survey
 

-    30% of UAE respondents considered resigning from a job due to concerns over unethical conduct at their company
-    32% of UAE respondents felt under pressure internally to withhold information or concerns about misconduct rather than report it
-    Only 9% of UAE respondents are aware of whistleblowing hotlines used for monitoring compliance with anti-bribery and corruption laws

Dubai, 19 April 2017: According to the EY biennial Europe, Middle East, India, and Africa (EMEIA) Fraud Survey, 42% of UAE respondents think that regulatory activity has had a positive impact on ethical standards in their company compared to only 28% of global respondents. Seventy-four percent of UAE respondents believe that prosecuting individuals would help deter fraud, bribery and corruption.

Michael Adlem, EY MENA Fraud Investigation & Dispute Services Leader, says:“Restoring confidence through enforcement is key to preventing fraud. Despite the need for more improvement, UAE executives have a lot more confidence in regulations as a deterrent of unethical behaviour compared to their global counterparts.” 

The report, Human instinct or machine logic – which do you trust most in the fight against fraud and corruption? surveyed 4,100 employees from large businesses in 41 countries.

Whistleblowing – why confidence is an important factor

Thirty percent of UAE respondents resigned from a job due to concerns over unethical conduct at their company, the highest percentage of respondents out of the 41 countries surveyed. However, 32% of UAE respondents also felt under pressure internally to withhold information or concerns about misconduct rather than report it.

Despite the fact that whistleblowing hotlines used for monitoring compliance with anti-bribery and corruption laws are now considered an important part of a company’s compliance program, only 9% of UAE respondents were aware of such a channel in their company, a lower percentage than their global counterparts at 21%.

“Even though a third of UAE executives are not afraid to leave their job if they are aware of unethical conduct, a third of UAE executives are also willing to withhold information about ethical misconduct. The different extremes in behaviour and lack of awareness about whistleblowing hotlines indicates a need for companies to work harder at setting the right tone on business ethics to foster a more unified culture of ethical behaviour,” concludes Michael.

Posted by : Dubai PR Network Editorial Team
Viewed 1653 times
PR Category : Banking & Investments
Posted on : Wednesday, April 19, 2017  4:11:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Next Story : UAE Ranked Among Top Destinations for Foreign Direct Investm...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Michael Kors Launches Capsule Kaftans and Handbags for Middle Eastern Markets [15506-Views]
Wake Up to Healthier, Hydrated Nails: Sally Hansen Launches Moisture Rehab™ Overnight Nail... [14060-Views]
Kérastase Paris launches natural and luxurious Aura Botanica line in the GCC [11291-Views]
Wellbeing Medical Centre - ULTRAFORMER III Best and latest Anti-Ageing treatments [10834-Views]
LG captivates the imagination of the MEA design community with revolutionary OLED signage [10687-Views]
Finally a Body that fits you! Cryolipolysis Fat Freeze [10291-Views]
Sandro Announces Expansion within The Middle East [9961-Views]
Performance for the passionate: Nikon D7500 is ready to exceed expectations for photograph... [9522-Views]
New York-Based Urban Artist creates masterpiece at Shoeciti in Dubai [8125-Views]
Introducing JOHNSON'S® NEW Vita-Rich range with Cocoa Butter [7552-Views]
Middle East and African beauty and personal care market to grow to US$34.5 billion by 2021... [7326-Views]
Dubai Design & Fashion Council Launches DDFC Membership to Support Sustainable Development... [7241-Views]
Volume Reveal mascara Ultra Black Collection [7168-Views]
COÉGA Sunwear Teams Up With GO Sport on Exclusive SS17 Swimwear Collection [7039-Views]
IKEA Introduces Limited Edition ‘Art Event 2017' Contemporary Drawing Collection [6893-Views]
Chloé eyewear introduces the new "Nola" sunglasses collection [6814-Views]
Doha Bank Re-ignites Qatar's Property Market with New Loan Offer at 3.99% with 12 Months P... [6594-Views]
Ulysse Nardin Marine Regattav [6344-Views]
du Football Champions awarded Gold for its successful engagement of UAE youth [6289-Views]
Win up to 30 Kilos of Gold in 18 Days at Malabar Gold & Diamonds [6240-Views]
Sheikh Khalid Al Qassimi Steers Peugeot 3008DKR to Victory [6185-Views]
New INFINITI Q60 sports coupe: designed and engineered to perform [6155-Views]
Interstuhl launches VINTAGEis5 chair in the GCC [5838-Views]
Al-Futtaim Motors launches the UAE's first hybrid truck [5667-Views]
UAE Exchange Hiring on-the-spot at Careers UAE [5545-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories