What are the key issues for companies in Central Eastern European (CEE) area?
It depends on the country and the companies within that country and how they are reacting to the local environment in terms of how they do business. Companies have a difference in opinion in terms of ‘do you pay a bribe in order to win a contract in certain countries?’ Some companies may decide ‘yeah, why not?’ Some larger companies are implementing global rules and stricter criteria in terms of what you can do. But then the question becomes, ‘do they follow them?’ That is why you have to have strong corporate governance, a strong compliance programwithin the company that you say is important. * Q: In your experience, how can a company prevent fraud and corruption? A: It is fundamental to establish very strong anti-corruption policies and promote good ethical behavior within the organization. Also, to stop corruption, a company needs to have a good compliance program. I don’t think there is enough understanding of that. Companies always think that as long as they have internal controls
