FCPAméricas Blog
An FCPA Question for Internal Audit: How do you do it all?
5.31.2012
Next week, I have the privilege of moderating a panel about “Running the Modern Audit Function” at Compliance Week’s 2012 Annual Conference. The panelists are an impressive group – senior executives from Starbucks Coffee, Intel, and Hasbro. What would one ask when given such an opportunity?
As an FCPA attorney, I would ask this – how do you do it all? I describe what I mean below. I also ask for your own comments and ideas about this or other questions to consider for the session.
My question is rooted in the fact that the importance of FCPA compliance only continues to grow and, with every development, we seem to expect more and more from internal audit departments. They are asked to develop and perform periodic compliance audits to ensure that programs are effective. This requires a unique knowledge of FCPA requirements, a knowledge that can be distinct from that of Sarbanes-Oxley (SOX) requirements. For example, even non-“material” issues must be addressed in the FCPA context. Thus, internal auditors are required to do things like review backup documentation to understand why certain p... Read more
Our Military’s Role in the Battle against Corruption
5.28.2012
On this Memorial Day, as we take time to honor the service of our brave soldiers, it is fitting on a blog like this to reflect on ways their work is relevant to the anti-corruption agenda.
In places like Afghanistan and countries experiencing the Arab Spring, corruption has served as a direct source of instability and insecurity. After conflict arises, the resulting conditions can lead to even more corruption. Corruption can further be exacerbated when vast amounts of resources, without adequate oversight, are directed to a country to help address conflict. These cycles can be vicious ones.
But the integrity with which our forces perform their jobs serves to counter these threats. This integrity was well-established by our World War II veterans. It is seen currently in our military’s explicit prioritization of anti-corruption efforts in its work.
For example, in Afghanistan, promoting anti-corruption measures has become a central component of our military strategy. Just yesterday the New York Times reported on how corruption continues to be a primary source of instability there. But our fo... Read more
Brazilian Foreign Bribery Bill: Things the Brazilian Congress Might Consider
5.25.2012
FCPAméricas recently reported on how the Brazilian business community is pushing back against the draft foreign bribery bill (6.826/2010) currently under consideration by the Brazilian Congress. Its complaints center around three features: successor liability, the level of proposed sanctions, and corporate strict liability. These features are described in detail in previous FCPAméricas posts (here and here).
This week, the Special Committee set up by Congress to consider the bill delayed its May 23rd vote. It needs more time to work with Congressional members, the business community, and other stakeholders to try to resolve lingering concerns. The new date has not yet been set. By continuing to make efforts to build consensus in the Special Committee, Congress can potentially avoid sending the bill directly to the full House where delays... Read more
