News Feed Item

TRACE Releases Updated Edition of the TRACE Bribery Risk Matrix; Introduces Substantive and Methodological Improvements

ANNAPOLIS, Md., Oct. 12, 2017 /PRNewswire/ -- TRACE International, the world's leading anti-bribery standard setting organization, announces the release of a new edition of the TRACE Bribery Risk Matrix, a global business bribery risk assessment tool. The TRACE Matrix was originally published in 2014 to meet a need in the business community for more reliable, nuanced information about the risk of commercial bribery worldwide. It addresses the risk of bribe demands within each country, rather than the conduct of the companies or citizens of a country when they are doing business overseas. The 2017 edition introduces several substantive and methodological improvements, increasing the model's robustness.

TRACE has expanded the range of sources from which it draws the underlying data for its risk-score calculations, allowing greater flexibility in responding to changes in data availability. Additionally, adjustments were made to the way in which scores are calculated for countries with limited data to increase the model's reliability. In the long term, these revisions will allow TRACE to present users with an even greater level of detail about country-specific factors and trends relating to business bribery risk.

The TRACE Bribery Risk Matrix, which is free and publicly available, helps companies examine the conditions that allow commercial bribery to flourish in each country: (1) the nature and extent of government interaction with the private sector; (2) the existence and enforcement of anti-bribery laws; (3) the degree of governmental transparency; and (4) the ability of civil society to monitor and expose corruption.

For each of these four "domains" (and related subdomains), the TRACE Matrix aggregates data obtained from leading public interest and international organizations, including the United Nations, the World Bank and the World Economic Forum. Based on statistical analysis of this information, each country is assigned not only an overall score between 1 and 100—with 100 representing the greatest risk—but also scores for each of the four domains and nine subdomains. This detailed information can help companies tailor their compliance and due diligence practices to the specific risks presented in each country and to better allocate limited compliance resources.

Qantas Airways' Group Manager, Integrity Risk, Zach McAfee,  said, "The Qantas Supply Chain Assurance Program aims to effectively and consistently assess, vet and manage our third-party suppliers. The TRACE Matrix provides the assessment phase immense credibility and allows our procurement teams to confidently screen all potential suppliers."

Changes to both content and method, mean users should exercise caution when comparing the new country scores to those published in previous years. While top-level risks scores are markedly lower this year, this is primarily due to refinements in the methodology rather than a drop in worldwide corruption levels. In the updated edition of the TRACE Bribery Risk Matrix, Sweden, New Zealand and Norway continue to place among the five least risky countries, along with newcomers Finland and the United Kingdom. The five riskiest countries for bribery are Somalia, ranked last among 200 countries, Venezuela, Turkmenistan, North Korea and South Sudan respectively.

"We are constantly expanding and improving our tools and resources to meet the evolving needs of the compliance community," said Alexandra Wrage, President of TRACE International. "The release of this updated edition of the TRACE Bribery Risk Matrix, provides companies with greater insight into the specific nature of business bribery risk worldwide."

The TRACE Matrix is publicly available at https://www.traceinternational.org/trace-matrix.

View a 90-second video about the TRACE Matrix here.

About TRACE 

TRACE is a globally recognized anti-bribery business organization and leading provider of cost-effective third party risk management solutions. Members and clients include hundreds of multinational companies headquartered worldwide. For more information, visit www.TRACEinternational.org.

View original content:http://www.prnewswire.com/news-releases/trace-releases-updated-edition-of-the-trace-bribery-risk-matrix-introduces-substantive-and-methodological-improvements-300535169.html


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DXWorldEXPO LLC announced today that Dez Blanchfield joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Dez is a strategic leader in business and digital transformation with 25 years of experience in the IT and telecommunications industries developing strategies and implementing business initiatives. He has a breadth of expertise spanning technologies such as cloud computing, big data and analytics, cognitive computing, m...
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ...