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 3794 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.
Previous Story : UNWTO Ministerial Meeting discusses ways to enhance tourism'...
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
Skyline Book Fair 2018 [10394-Views]
The Bremont Waterman [9852-Views]
Holiday hair: The best product to keep your locks smelling fresh and protected [9577-Views]
ServeU to Take Huge Leap Forward with Smart Cleaning Robots [7741-Views]
Emirates celebrates inaugural flight to London Stansted [7228-Views]
Chronoswiss' Exclusive Limited Edition Flying Regulator Marks 31st Anniversary of Kitzbuhe... [7228-Views]
Blackberry Key2: An Icon Reborn [7174-Views]
Marchon Eyewear Summer 2018 Collections [7174-Views]
The Future Takes The Past Tense [7046-Views]
CSR Initiatives by Malabar Gold & Diamonds continues in full strength [6838-Views]
du Distributes Eid Gifts at Al Jalila Children's Hospital [6820-Views]
Consulate General of India Mr. Vipul came as CHIEF GUEST at the blood donation camp organi... [6332-Views]
DWTC events drive AED 12.7bn in economic value for Dubai, fuelling record 3.3% contributio... [6112-Views]
Al-Futtaim ACE celebrates Eid with exciting offers and activities [6045-Views]
24 hour Mega Sale at Dalma Mall! [5929-Views]
Beauty on the Go [5612-Views]
Purify Your Skin with Skin Republic [5508-Views]
A Sparkling Gift Guide for Eid al-Fitr by Mouawad [5490-Views]
Filorga introduces two new additions to its UV-BRONZE range offering a comprehensive range... [5466-Views]
Al Ghandi Auto brings the most Affordable Electric Vehicle - Chevrolet Bolt EV - to the UA... [5398-Views]
Skin Hydration is one of the primary challenges our skin faces in the UAE [5075-Views]
Rapid renewal of smartphone portfolio brings next generation Nokia 5 and Nokia 3 to fans ... [4837-Views]
New open-air member of the AMG GT family [4734-Views]
Hamdan Bin Mohammed Heritage Center distributes Eidia on first day of Eid [4734-Views]
Abu Dhabi Treats Eid Al Fitr Visitors to Shopping Bonanza with 90% Discounts Across 15 Sel... [4697-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories