KordaMentha KordaMentha is an Australian advisory and investment firm that provides specialist forensic, real estate, turnaround / restructuring and investment management services. The business was formed in April 2002 by Mark Korda and Mark Mentha. Located at
Level 24, 333 Collins Street, Victoria, Australia.
Phone: +61 3 8623 3333

Transparency International's Corruption Perceptions Index 2014

KordaMentha Forensic host the Australian launch


Last Thursday saw KordaMentha Forensic host the launch of the Corruption Perceptions Index 2014 on behalf of Transparency International Australia in our offices in Brisbane, Melbourne, Perth and Sydney. This is the second year that KordaMentha Forensic has hosted this launch.

The 2014 index scores and ranks 175 countries and territories from around the world on the perceived level of corruption in the public sector, from 0, being very corrupt, to 100, being very clean.

 

Some key facts for the 2014 index include:

 
  • 69% of countries score less than 50 out of 100, with 43 out of 100 being the average score worldwide. This is a slight decline on last year’s results.
  • Denmark remains in first place as having the lowest perceived public service corruption, with New Zealand falling to a close second place this year.
  • Sudan, North Korea and Somalia are at the bottom of the index, having the highest perceived public service corruption.
  • Australia has fallen to the 11th cleanest country, a decline from ninth in 2013.

“Australia’s slide from 8th to 11th in the CPI rankings over two years shows that there is no room for complacency on the home front and underlines the need for a comprehensive national anti-corruption plan to be released as soon as possible.” said The Hon Roger Gyles AO QC, Chairman of Transparency International Australia.


Some practical suggestions discussed at the launch event included:

 
  • The need for the Australian government to release a comprehensive national anti-corruption plan.
  • The Australian public sectors and corporate Australia must do more to effectively deal with corruption, both domestically and abroad. This should start with leadership commitment and embedding cultures of ethics, transparency and disclosure.
  • Legislative change such as removing the defence of ‘facilitation payments’ and implementing an offence similar to the UK Bribery Act’s ‘Failure of a commercial organisation to prevent bribery’ with an associated defence of ‘adequate procedures.
  • Consideration to financial rewards for whistleblowers similar to that offered under various legislation in the US, including the Dodd Frank Act.


 

 

KM Private Clients  |  Staff Access  |  Privacy Policy  |  Legal Status  ©  Copyright . KordaMentha.