I recently spent two days in Paris participating and speaking at the Organisation for Economic Co-operation and Development’s (OECD’s) annual Global Anti-Corruption and Integrity Forum. Surrounded by world leaders, anti-corruption experts, and transparency activists, one couldn’t help but become invigorated by the participants’ passion and drive for battling corruption. I was especially proud of the recognition and respect shown for internal audit’s role in this worthy battle.
There is little argument that dedicating resources to fighting corruption is necessary to sound risk management, but it’s still shocking to consider how much is lost to it annually. The World Economic Forum estimates corruption adds 10 percent to the cost of doing business.…