FCPAméricas Blog
Archive for Audits category:
The Ten Most Important FCPA Internal Controls (Part 1: Accounting Controls)
4.15.2014
Under the FCPA, companies can be punished not only for the wrongful things they do, like paying bribes. They can also be punished for certain things they don’t do. In particular, the FCPA’s accounting provisions require companies to have internal controls in place. When companies do not have certain protections like appropriate accounting systems and […]
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Exercising FCPA Audit Rights: Tips for Practitioners
3.13.2014
FCPA enforcement actions in the recent past, as well as the FCPA Guidance, highlight the importance of including audit rights in written contracts with third-party contractors. But just including them is not enough. The Assistant Director of the SEC’s FCPA Unit, Tracy Price, has publicly stated that enforcement agencies are also looking at how companies […]
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Chronicle of a Bribe Foretold: ADM in Venezuela
2.13.2014
A gripping cautionary tale is hidden in the Statement of Facts attached to the Archer Daniels Midland (ADM) non-prosecution agreement (NPA). The NPA, which ADM signed with the DOJ last December, related in part to FCPA violations in Venezuela, as well as Ukraine. The total FCPA settlement amount was $54.3 million. In summarizing the underlying […]
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What FCPA Enforcement is Thinking in 2013
12.06.2013
What is the current thinking of FCPA enforcement officials at the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC)? At ACI’s 30th International Conference on the FCPA this year, two top officials provided insights (they clarified that their statements reflected their own views and not the views of their respective agencies). […]
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Ensuring Your “Upjohn” Does Not Sound Like “Miranda”
11.19.2013
Attorneys conducting FCPA interviews generally start with a routine “Upjohn” warning – a sort of lawyerly throat-clearing. But to interviewees hearing this warning for the first time, it can be startling. In-house lawyers have reported to me that outside U.S. counsel are generally terrible at providing an Upjohn warning in a way that does not […]