Case Study
AÂ Travelers Guide to Gifts and Bribes
why might grafting become a problem for U.S. managers running(a) in opposed countries?
The FCPA was structured to help U.S. companies understand what bribery is and what is or is not acceptable behavior at kin and in other countries. The confusing issue is that even with this guidance, it is not always clear what exactly is to be considered a bribe. down the stairs the Act, not all payments be deemed to be bribes. For example, some payments are acceptable if they do not violate local laws. And, bribes give to influence political decisions are banned - but bribes to alleviate ongoing line of credit activities are not (usually small payments that are designed to tick a foreign official to fare a non- dexterityary function). The distinction between the two is blurred. Confounding this is that some(prenominal) U.S. business people do not know what is permitted and what is not, as there is no clear guidance.
What are the major features of the unusual Corrupt Practices Act (FCPA)?
The Foreign Corrupt Practices Act (FCPA) was enacted in 1977 and substantially revised in 1988. The FCPA generally prohibits corrupt payments to foreign officials.
To complement this prohibition, the FCPA has accounting nourishment that require maintenance of sincere and complete financial records. The Justice Department enforces the anti-bribery provisions, while the Securities and replace Commission has jurisdiction over the accounting requirements. The key provisions of the FCPA are as follows: (Hart, 2001)
* The FCPA prohibits payments (including promises to pay) of anything of value to influence, corruptly (with corrupt intent), the discretion of a foreign official to do something in encroachment of his or her official duty; to obtain, retain, or direct business; or to gain any improper advantage.
* The FCPA prohibits indirect payments, as well. These provisions also apply to acts of a non-U.S....If you want to get a full essay, order it on our website: Ordercustompaper.com
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