Corruption in Construction and Engineering
Corruption in Infrastructure, Construction & Engineering Sectors
The index of bribery in business sectors places the infrastructure, construction and engineering industry as the highest scores of corruption. This is not new and is due to the particular characteristics of this sector. Contracts are usually large and construction projects are often unique and therefore difficult to benchmark for costs and time. This makes it easier to hide and inflate additional expenditure. It is also a fragmented industry, often involving contractors and sub-contractors, which makes the tracing of payments and the diffusion of standards of practice more complex.
TNA Global Consult works with businesses in this sector to create tailor-made programs that identify areas of risk and define solutions to minimize the impact of corruption on their business.
Topics of discussion include:
- The costs of bribery and corruption in this sector are distinctively damaging
- Poor procurement, contract and investment decisions
- Bribery and corruption can affect the quality of the projects resulting in cutting of corners and failure to meet safety standards
Analysis & Mitigation
- Detailed analysis of factors leading to possible corruption
- Due diligence
- Risk assessment
- Proactive measures to mitigate expected corruption
- Common “Red Flags” in construction and engineering industry
ENHANCE ETHICS & COMPLIANCE – REDUCE CORRUPTION