The company will look at its compliance with bribery laws in several of its publishing divisions, including News International, The Guardian reports.
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The media tycoon told staff that the initiative is "not based on any suspicion of wrongdoing by any particular business unit or its personnel", but rather a "forward-looking review" to improve anti-corruption controls throughout the company.
Murdoch said in a memo to staff: "As you are all aware, our company has been under intense scrutiny in the United Kingdom.
"I assured parliament and the Leveson inquiry that we would move quickly and aggressively to redress wrongdoing, co-operate with law enforcement officials and strengthen our compliance and ethics programme company-wide.
"With the support of our board of directors, I am pleased to tell you that we have made progress on each of these important steps.
"We have already strengthened and expanded our anti-bribery training programmes. To ensure the effectiveness of our entire compliance and ethics programme, we have recently initiated a review of anti-corruption controls in selected locations around the globe.
"The purpose of this review is to test our current internal controls and identify ways in which we can enhance them."
Murdoch added that while improving News Corp's compliance procedures will take time and resources, the potential cost of non-compliance would be far greater.
Imogen Haddon was appointed chief compliance officer at News International in March. News Corp also hired two New York-based compliance officers to look at company-wide procedures.
News Corp recently posted a net loss of $1.55 billion for the second quarter of 2012, in the wake of the phone hacking scandal.