/en/print/17401/bribes-and-corruption-constant-problem-of-construction-industry/ Bribes and corruption – constant problem of construction industry

Bribes and corruption – constant problem of construction industry

Economic crime strongly affects the construction sector and this has very serious consequences for all involved parties. The fourth year of Report on engineering and construction industries, conducted within worldwide research on economic crime by PricewaterhouseCoopers, shows this. “The specifics of construction sector together with the financial crisis led to an increased risk of corruption and economic crime. Managers who urgently need to conclude a contract can be tempted to offer a bribe or manipulate the price. Such conduct may be concealed even over several years. A large number of payments are carried out – mainly in small and medium-sized companies – in cash, which increases the risk of unethical transactions,“ said Jiří Koval from PricewaterhouseCoopers Audit.

“In difficult market situations, people pay more attention to the communication with their tenants, contracting parties and other suppliers, especially in the area of mediation. It is necessary for investors to have the right idea of income and expenses, transparency is therefore decisive. And as our research revealed, transparency is often lacking, which is a problem,“ Richard Jones from PricewaterhouseCoopers pointed out.

Key findings of PwC research

 
Autor: SF / pb, Dátum 27.07.2010