Do We Have An FCPA Problem?
A Dozen Questions to Ask
- Are you an issuer, US person or US entity?
- Have any foreign agents or subsidiaries?
- Are you a foreign person or company whose transactions touch the US?
- Promised or paid anything of value to a foreign official (governmental, political, NGO) for business purposes?
- Did you or a third party know or suspect it would be passed on to a foreign official?
- Have you consciously disregarded circumstances indicating improper payments occured?
- Do you maintain an adequate system of internal controls?
- Was the payment to facilitate a routine governmental action (grease payment) permitted by the foreign country?
- Do your books fairly reflect the transactions and properly characterize expenditures, such as "entertainment?"
- Have you conducted comprehensive due diligence on your foreign business partner?
- Is your industry historically prone to corruption?
- Are you doing business in a country with a "corrupt" environment?
