Facilitation Payments Seen as Problematic by Many...(policies nearly 35% reported their compa...),Health

The survey also revealed how companies that make facilitation payments presently account for them. Although 69% of respondents report that such payments are required to be recorded precisely as "facilitation/facilitating payments" on their company's books, nearly 7% say their companies do not require facilitation payments to be accounted for as such.

Seventy-six companies and organizations operating in virtually every region of the world participated in the survey, launched August 7. Of these:

• 72% are headquartered in North America;
• 18%, in Western Europe;
• 4% in Asia;
• 2.7%, in Central America;
• 1.4%, in the Middle East;
• 1.4%, in Africa; and
• 1.4%, in Australia/Oceana.
  

The industry sectors represented in the survey include aerospace and defense (20.3%); extractive industries (17.4%); pharmaceuticals (13%); manufacturing (10%); technology and software (8.7%); financial services (5.8%); engineering/construction (4.3%); food, beverage and hospitality (4.3%); service provider (4.3%); telecommunications (4.3%); and transportation/airlines, express delivery (4.3%).

Full results of the TRACE Facilitation Payments Benchmarking Survey are available at www.TRACEinternational.org.

TRACE is a non-profit membership association that pools resources to provide practical and cost-effective anti-bribery compliance solutions for multinational companies and their commercial intermediaries. The organization provides several core services and products, including: due diligence reports on commercial intermediaries; model compliance
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