Proliferating global opportunities have spawned intense market pressure to deliver results. With opportunity there are threats to success. Specifically the risk of international corruption preventing the attainment of your cross-border objectives is likely. Governments take corruption risk seriously. In the United States, the Fraud Section of the Department of Justice's Criminal Division as well as the Securities and Exchange Commission (SEC), aggressively enforce the Foreign Corrupt Practices Act (FCPA) to promote fair and transparent business practice. The law prosecutes commercial bribery of public sector officials. It also sets transparency standards for corporate and tax accounting. The FCPA may apply to any domestic concern, including public and private corporations and partnerships, both foreign and domestic, as well as individuals.
Anti-corruption and transparency success includes measures that form strong barriers against fraud and corruption damage. PwC's Forensics Services practice designs compliance programs and systems, creates architecture for effective compliance controls, and provides transactional monitoring to help clients conform to FCPA guidelines. We also conduct background due diligence and international forensic investigations in response to allegations of fraud, corruption, collusion or obstructive practices. Although some executives may doubt the potency of FCPA directives, self-regulation and compliance effectiveness enhances shareholder value and is now of paramount importance to successful expansion abroad.
The UKBA versus the FCPA