Most companies still unprepared to deal with whistleblower risk
LESS than one in 10 managers at multinational companies says whistleblowing is currently an important issue for their firm, despite the fact that 12 per cent have blown the whistle and nearly half would consider it.
The figures from law firm Freshfields Bruckhaus Deringer come in the wake of a spate of high-profile whistleblowers this year, such as the insider who blew the whistle on a £250m accounting scandal at Britain’s biggest supermarket Tesco.
“Given the high-level nature of whistleblowers’ issues such as financial mismanagement, corruption or criminal activities, and the related major reputational risks, adequate whistleblowing procedures are clearly a board-level issue,” said Freshfields’ employment, pensions and benefits global practice group leader Caroline Stroud.