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7 December 2012 | Adam Leach
Rolls-Royce has announced that it has passed on information to the Serious Fraud Office (SFO) relating to bribery and corruption concerns about intermediaries within its overseas supply chain.
In a statement published yesterday, the global power systems company explained it had disclosed information to the fraud and corruption investigator over allegations of malpractice in Indonesia and China. It explained regulators would decide the consequences but that action taken could include prosecution of individuals and of the company. It pledged to fully co-operate with the SFO.
John Rishton, chief executive at Rolls-Royce, said: “I want to make it crystal clear that neither I nor the board will tolerate improper business conduct of any sort and will take all necessary action to ensure compliance. This is a company with exceptional prospects and I will not accept any behaviour that undermines its future success.”
In the statement the company explained it had taken steps to strengthen compliance, such as introducing an updated Global Ethics Code and Intermediaries Policy. It is also in the process of appointing a senior independent figure to review its current procedures.
The SFO would neither confirm nor deny that it had received information from the company.