Lord Gold to lead probe into Rolls-Royce corruption allegations

11 January 2013

Want the latest procurement and supply chain news delivered straight to your inbox? Sign up for the Supply Management Daily

11 January 2013 | Adam Leach

Engineering business Rolls-Royce has appointed one of the UK’s top lawyers to lead an investigation into its bribery and corruption controls.

Lord David Gold, a Conservative peer and former senior partner at global law firm Herbert Smith will conduct an in-depth review of the company’s compliance procedures covering the use of intermediaries, it was announced yesterday.

The appointment was one measure promised by the company when it disclosed in December it had passed on information to the Serious Fraud Office (SFO) relating to potential corrupt activities by third parties in Asia. The SFO has so far refused to confirm it is conducting an investigation into Rolls-Royce.

Once Lord Gold has completed his review, he will report his findings to the Rolls-Royce ethics committee of the board. The company would not confirm when the review was expected to be completed.

In a statement announcing the move to pass on the information, Rolls-Royce CEO John Rishton, 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".

LATEST
JOBS
Swindon, Wiltshire
upto £40K base (+ Paid overtime and corporate benefits)
Honda Manufacturing Ltd
Kew gardens, Richmond upon Thames, London (Greater)
£37,000 - £42,500 per annum pro rata, depending on skills and experience
Kew Royal Botanic Gardens
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE