Anti-Corruption & FCPA Compliance Committee’s Breakfast Meeting in association with PwC – 25th May 2017
On 25th May 2017, the Anti-Corruption & FCPA Compliance Committee met at the PwC office in Gurgaon for a breakfast meeting. This meeting was led by Ms. Ritika Ratti, Chairperson – Anti-Corruption and FCPA Compliance Committee, AMCHAM and Senior Director, Chief Ethics and Compliance Officer & Head of Anti-Corruption, Walmart India. Mr. Rahul Lalit, Partner, Advisory, PwC, gave a presentation on the Impact of Bribery and Corruption on the APAC Region and Demonetization.
Mr. Lalit focused on Transparency International’s ranking of countries all over the world and their perceived level of corruption and it revealed that India ranked relatively high. He further went on to compare the Asia Pacific region and showcased the global corruption barometer which highlighted the percentage of people who thought the level of corruption has increased. The presentation included CMS India’s Corruption Study 2017 which focused on most corrupt states within India. Thereafter, the key reasons for paying bribe were discussed and it was concluded that it was observed similarly across states which included procedural, documentation related, payment evasion and dependency on service provider. He also touched upon the Ease of Doing Business in India and how India’s rank has improved to 130 in 2017 from 142 in 2014.
Members engaged in an interactive discussion post the presentation on what initiatives can be taken to curb corruption in India and ways to report corruption. Critical risk areas and remediation were also discussed and the participants expressed their views on the presentation. Ground realties may still be different from surveys and perceptions of people.
Post the presentation Ms. Ritika Ratti, Chairperson – Anti-Corruption and FCPA Compliance Committee, AMCHAM and Ms. Tanya Paul, Communications Director, AMCHAM requested members to give inputs for topics for future committee meetings. It was decided that the next committee meeting will be held in September after the Anti-Corruption and FCPA Compliance masterclass, which is to be held on 2nd August.