73% of Indian youth feel nothing is unethical for business: EY

79% OF PARTICIPANTS SAID THAT PROSECUTING INDIVIDUALS WOULD HELP DETER FRAUD, BRIBERY AND CORRUPTION.

Demonetisation, which aimed at hitting out at the cash element in the economy to curb corruption and black money, has had a mixed impact, according to the the EY Fraud Survey 2017. According to the India findings of the survey, 32% of Indian youth are willing to deal in cash to help businesses survive while 73% feel that unethical action can be justified to help a business survive, adds the EY survey.

Unethical behaviour at the workplace has become a serious concern for corporate India as employees refuse to report fraud, bribery and corruption to enhance career prospects, the report suggests.

As many as 41% of employees in India are ready to act unethically to enhance their own career, while 13% are prepared to provide false information to improve their career or pay, according to the India findings of the survey. 30% of Indian employees are ready to book revenues earlier than they should in order to meet financial targets, while 16% would deliberately mis-state their company’s financial performance to meet financial targets.

79% of participants said that prosecuting individuals would help deter fraud, bribery and corruption. Strikingly 68% of the youth or millennials also believe the company management would engage in unethical behaviour to help a business survive.