It’s 2009. Do you know where your gift and entertainment policies are?
Amid the economic downturn, heightened anti-bribery enforcement, and glaring headlines of lavish corporate spending, observers say compliance departments would be wise to review their policies on gifts and entertainment.
In a recent survey of more than 500 compliance and ethics professionals, 46 percent said their organization hasn’t significantly updated its gift and entertainment policy in the last year. Of that group, 20 percent admitted it’s been at least three years since their policies were significantly updated.
Observers say compliance executives have plenty of reasons to give those policies a fresh look, ...