Why tackling corruption in corporate governance is not impossible

As the Corruption Perceptions Index shows, there is still a long way to go but the process of change provides a roadmap for winning the battle

Corruption is a global scourge, sometimes becoming so deeply ingrained in countries that combating it seems impossible. In January, Transparency International released its annual Corruption Perceptions Index, noting that the problem "remains a blight around the world".

The International Monetary Fund, for example, has just warned Ukraine that its $40bn financial bailout could be cut off, owing to fears that corrupt officials will steal or squander the funds. During his recent visit to Mexico, Pope Francis called on the country's leaders - several of whom (including the president and his wife) are embroiled in conflict of interest scandals - to fight endemic corruption.