Tuesday, April 04, 2006
More Companies Reporting FCPA Violations
CFO .com has an article about companies self-reporting FCPA violations. Since March 1, 11 voluntary disclosures have been made to the US Department of Justice. Most of these discuss internal control issues uncovered during the SOX 404 review.
The DOJ recently arrested a US citizen for bribery even though the bribery wasn't committed in the US. The DOJ press release is here. The defendant is accused of bribing Iraqi police officials on behalf of his employer, a defense and telecommunications contractor working in Baghdad.