CORRUPTION RISKS IN ACTIVITIES OF SUBJECTS OF BUSINESS: DEFINITION, EVALUATION, MINIMIZATION

Abstract

The article examines the state of the high-profile cases of corruption in the European business environment. In today’s conditions of European integration of our country, the question of effective counteraction to corruption in the system of economic security of the enterprise is becoming increasingly a prerequisite for the maintenance and continuation of reforms in Ukraine at the expense of international financing. First of all, in order to solve this problem, it is necessary to develop and implement effective mechanisms for preventing corruption, which should be based on recognized international anticorruption standards. The main element of such a system is the management of corruption risks in the system of economic security in order to take measures to minimize them. The nature of corruption risks has a number of peculiarities: the impact on decision-making gives the environment, in most cases the individual is aware of the consequences of the decision and can independently estimate the costs and benefits for yourself, determine the likely consequences and sanctions for violations. An active approach to managing corruption risks is one of the most effective steps that an entity’s management can use to reduce the level of corrupt activity. The analysis of methods of corruption risk assessment in accordance with the leading international practices has been carried out. The process of evaluation of corruption risks in the system of economic security of the enterprise is considered. It is recommended that the assessment of corruption risks be carried out regularly after the approval of the anti-corruption program. While eliminating all corruption risks is not possible, institutions can take positive and constructive steps to reduce their vulnerability. The author’s approach to the implementation of management of corruption risks is proposed. In order to minimize corruption risks, common rules are developed that should be applied in the activity of business entities.