![]() ![]() Regulatory Fines in Asia Pacific and Compliance Programs Given the ongoing emphasis on the evaluation of corporate compliance programs, compliance professionals and internal auditors should strive to hold greater responsibilities going forward. However, only 13% of respondents in China had internal audit-exposed vulnerabilities, which is considerably lower than the global average (39%). The low percentage of effective ABC programs in Asia Pacific may be caused by the higher percentage enforcement actions or identified breaches for ABC in HKSAR and China.Īlso, internal audits play a key role in the effectiveness of ABC programs. ![]() As a result, when assessing the effectiveness of ABC programs, nearly 25% of respondents in the Asia Pacific region assessed their programs as very effective, which is the lowest when compared globally (40%). In Kroll’s analysis of their recent anti-bribery and corruption (ABC) survey data in 2022, nearly 70% of respondents in the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR or Hong Kong) and People’s Republic of China (China) have either experienced enforcement action or identified breaches for bribery and corruption, when respondents reported their compliance program as ineffective or neutral. ![]()
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