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most recent survey carried out by the Association of Chartered Certified Accountants (ACCA), 62 per cent of SMEs questioned claimed that they had access to insufficient levels of guidance concerning these two issues.
In addition to a lack of guidance, the report also found many company start-ups to be lacking a basic knowledge of the laws and regulations governing this area of business.
"Bribery and corruption are ills which are usually associated with business dealings involving large companies and public bodies," said John Davies, head of business law at the ACCA.
"But clearly, the competitive pressures which can generate bribery and corruption exist at the SME level too."
Despite these findings, the study also revealed that around two-thirds of company start-ups expected to face some problems in this area at some point in the future.
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