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Nearly all chief executives in Asia were found in a survey to believe that effective governance, risk management and compliance enhance the value of their companies and give a competitive advantage.
The eighth annual global survey by the business consultancy PricewaterhouseCoopers revealed that 89 per cent of Asian chief executives interviewed had positive views of good ethical practice, compared with 60 per cent in the US and 72 per cent in Europe.
In Asia 88 per cent said good practices benefited reputation and brand, though many appeared to be struggling to implement them. About two thirds of the Asian chief executives said the barriers were companies’ own corporate cultures and a lack of understanding of the benefits. They thought a global standard would help.
Cimi Leung, senior manager of PricewaterhouseCoopers, said multinationals in Asia needed a system to deal with governance, risk management and compliance, particularly to observe foreign laws and regulations and understand procedures in foreign businesses.
The researchers contacted 1300 chief executives around the world, including 297 in Asia.
The eighth annual global survey by the business consultancy PricewaterhouseCoopers revealed that 89 per cent of Asian chief executives interviewed had positive views of good ethical practice, compared with 60 per cent in the US and 72 per cent in Europe.
In Asia 88 per cent said good practices benefited reputation and brand, though many appeared to be struggling to implement them. About two thirds of the Asian chief executives said the barriers were companies’ own corporate cultures and a lack of understanding of the benefits. They thought a global standard would help.
Cimi Leung, senior manager of PricewaterhouseCoopers, said multinationals in Asia needed a system to deal with governance, risk management and compliance, particularly to observe foreign laws and regulations and understand procedures in foreign businesses.
The researchers contacted 1300 chief executives around the world, including 297 in Asia.
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