Still ‘Insufficient or Irrelevant’: Australia’s Foreign Bribery Corporate Whistleblowing Regulation
24 Pages Posted: 26 Jan 2019
Date Written: June 15, 2016
Abstract
This article argues for the value of whistleblowing as an anti-bribery tool from both practical and theoretical perspectives. Whistleblowing systems that support internal information capture and dissemination in relation to disclosures can assist in a company’s internal anti-bribery control systems. Internal reporting of foreign bribery ought to reduce the risk of escalation of bribery activity, benefiting the corporation and public regulatory goals. This article also points to a combination of shortcomings within the Australian regulatory structure applicable to Australian foreign bribery whistleblowing. These include the lack of a direct connection between the existing primary corporate whistleblowing protections and foreign bribery, lack of transparency in Australia’s foreign bribery enforcement network, and the contrast between lack of regulatory support for foreign bribery corporate whistleblowing and contemporary corporate governance pressures. The dramatic disparities between Australia’s approach and international recognition of the relevance of whistleblowing to foreign bribery enforcement are also described.
Keywords: Whistleblowing, Foreign Bribery, Anti-Bribery, Corporate Governance, Australian Regulatory Structures, Corporate Law
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