COMPANY directors who fail to act now to address new anti-bribery legislation risk damaging the reputation of their businesses and possibly prison, a firm of Castle Donington business advisers has warned.

Experts at PricewaterhouseCoopers are advising companies to review processes to prevent bribery now. Under the proposed legislation, company directors, employees and others will face up to 10 years in jail if guilty of an offence.

A company may face a heavy fine if someone acting on its behalf commits bribery and it is found the company has been negligent in failing to put adequate procedures in place.

John Tracey, partner and forensic services expert at PricewaterhouseCoopers, said: "Companies should start to identify the risks of bribery and put measures in place to address these risks."