Last week WhistleB participated in the seminar on corporate compliance that was organized by the French-Finnish Chamber of Commerce in partnership with EY. The theme of the seminar was “Fighting fraud and corruption: the key to make business environment more efficient and to ensure sustainable growth”.
At the seminar, corporate whistleblowing was pinpointed as one of the most effective programs for fighting fraud and corruption. WhistleB was invited to share its experiences working with whistleblowing issues globally. There is growing awareness about the crucial role of whistleblowing in fighting corruption and ensuring ethical business behavior, and this has been highlighted by the strong positions that companies, authorities and governments are taking in regards to anti-corruption initiatives – the most recent being Sapin II the French anti-corruption law which puts in place a mandatory requirement for French companies to have in place internal whistleblowing mechanisms.
Fraud and corruption continue to be key disrupting factors for businesses and economies and addressing them is a number one priority. According to the French Ministry of Finance for example, the correlation between corruption and growth is evaluated by 0.2 point of GDP per year in the mid and long term. In a globalized and competitive world, multinational companies have become aware that their reputation and reliability will come from efficient, sound and irreproachable anti-corruption prevention programs. Sound corporate compliance is therefore one of the levers for growth for both businesses and economies.
Micheal Akampa, Head of WhistleB Africa