Read Richard Chambers' Latest Blog
Internal Audit's Role in Fighting Bribery and Corruption
In his blog, IIA President and CEO Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here's an excerpt from his latest post:
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. The World Bank estimates that 20 percent to 40 percent of official development assistance is stolen through high-level corruption.
The cost of corruption isn't just about money. Corruption correlates to higher child and infant mortality rates, the latter being doubled in nations that rate highest on corruption indices, according to the study, Corruption and the Provision of Health Care and Education Services.
Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.