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Business leaders back anti-corruption summit

12 May 2016
 Television camera in a television studio
  • IoD identifies international sport as key target for corruption crack-down, calling on sponsors to use their power
  • UK legislation must be well-designed so that it catches corruption, not small firms

Business leaders welcomed the Government’s international anti-corruption summit, held today in London. Simon Walker, Director General of the Institute of Directors, and an attendee at the summit, said:

“Businesses want to play their part in tackling corruption, so we congratulate the Government for their push to bring countries together to stamp out the abuses which are so damaging to the developing world in particular. We should celebrate the enterprising spirit of British companies that go out to the world to export their great products and services, and help them to avoid corruption in parts of the globe where it is sadly still rife. UK firms which behave transparently and ethically are among the best ambassadors we have, showing companies in developing nations how to be both successful and clean.

“Tackling international corruption in concert with other nations is rightly a key strategic goal of this Government, but they have to make sure that any new laws in this area are extensively consulted on before decisions are made. We are keen to study the details of the Government’s proposals for changes to corporate liability laws, and will work with them so that small domestic firms are not accidently caught by badly-designed legislation.

“International sport is a high-priority target for government action. The IoD has been very critical of the governance of FIFA in particular, which has lurched from crisis to crisis, seemingly unable to get its house in order. With reputations at stake, it is no wonder that several sponsors have pulled back from the governing body of world football. Vast sums are involved in sponsorship deals for major sporting events, and the companies putting up the cash must make sure their money is not going to corrupt organisations.” 

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