Hooker, John. « Corruption from an intercultural point of view ». Pittsburgh, Pennsylvania: Carnegie Mellon University. Oktober 2008. ba.gsia.cmu.edu/jnh/corruption08s.pdf. Nicky is a business journalist with nearly two decades of practical and journalistic experience. She has been featured in several trade publications, including The Employment Times, Web Hosting Sun and WOW! Women writing. She also studied business administration at the college. The FCPA addresses international corruption through its anti-corruption and accounting policies and is enforced by the DOJ and SEC. Specialized teams within the DOJ and SEC work with other agencies to enforce, investigate, and prosecute FCPA violations.
reduce corruption complaints through strong corporate governance programs; and promoting a level playing field for the United States. Companies operating overseas.5 Airbus has signed the largest anti-corruption resolution in history and agreed to pay a total of US$3.68 billion globally to investigate allegations of corruption in more than 20 countries after participating in various fraudulent activities over a 10-year period. Airbus reportedly paid at least $150 million and offered at least another $150 million in bribes and inappropriate payments to aviation executives and foreign government officials around the world to buy planes and satellites. Airbus has done this by obscuring in various ways the true purpose of its business partners and advisors. The Company issued false invoices for services never provided, false activity reports, verbal agreements, non-refundable loans and indirect payments to third-party intermediaries. It has also provided inappropriate gifts, travel, and entertainment to foreign government officials.10 Bribery is one of the archetypal examples of a company behaving unethically. A number of problems can be attributed to corporate bribery. First of all, it is obviously illegal – all countries have laws prohibiting bribery of public officials – so the foreign company that engages in corruption exposes its directors, officers and employees to serious legal risks. Second, rules and regulations circumvented by corruption often have a legitimate public purpose, allowing the company to undermine local social interests and/or harm local competitors.
Third, bribery can fuel a culture of corruption abroad that can be difficult to eradicate. Fourth, given laws such as the U.S. Foreign Bribery Practices Act (FCPA) and the Organisation for Economic Co-operation and Development (OECD) Anti-Bribery Convention (see below), bribery is illegal not only in the target country, but also in the company`s home country. Fifth, a company that is formally accused or convicted of illegal conduct can face a serious public relations backlash. When resources within a company are manipulated, the efficiency with which the company converts those resources into profit is reduced. First, the impact of corruption on the business is such that the company now has fewer resources, which may not be enough for the business to operate efficiently and the business to maintain its level of operation. We`ll look at some common red flags for bribery and corruption and how you can prevent them. Corruption in the economy takes various forms, but can also occur at different levels of business activity or in spheres of influence: within the company, within the supply chain, across business activity and in the social environment.
An image illustrating how corruption manifests itself at these different levels is included in the PowerPoint slides in the Additional Learning Materials section. The Foreign Corrupt Practices Act (FCPA) of 1977 addresses international bribery through its anti-corruption and accounting provisions and is enforced by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Today, it`s impossible to imagine a time when the FCPA was not part of the legal system of this country and the world – but such a time existed less than 50 years ago. The first thing the company can do is put in place the right procedures, as a way to promote whistleblowing to all employees. A hotline can help. The company`s internal audit controls should also be strict, with supporting documentation required everywhere and no cash payments accepted. Employees, contractors and agents should also be trained in appropriate measures to prevent corruption and bribery. In addition, corruption undermines a state`s ability to promote sustainable growth by diverting public resources from investments that can improve economic performance and raise living standards, such as education, health care and infrastructure.14 Corruption is also catastrophic within a company: it weakens employees` trust in the management of a company and encourages other types of corporate misconduct. such as theft of employees.
Embezzlement, financial fraud, and anti-competitive behavior.13 Other consequences of corporate bribery include significant fines for violating the FCPA, inherent reputational damage, and a negative impact on relationships with customers, suppliers, and employees. Obtaining and receiving information is a human right that can serve as a safeguard against corruption and build trust in decision-makers and public institutions. However, transparency is not only about providing information, but also about ensuring that it can be easily accessed, understood and used by citizens. Typically, when a large company decides to enter a foreign market, it must obtain a series of licenses, permits, registrations, or other government approvals. Some types of businesses may even be impossible or illegal unless the company is first able to change or adapt the country`s laws or regulations. Given that the power to approve the activities of the foreign company is in the hands of local politicians and officials, and that companies have access to significant financial resources, it is not surprising that some business leaders use financial incentives to influence foreign officials. While some financial incentives, such as promises to invest in local infrastructure, may be legitimate, any form of direct payment to the foreign official aimed at influencing that official`s public decisions will cross the line of illegal bidding, also commonly known as corruption. You won`t find many investors enthusiastic about investing in a company or community involved in corruption. Whether you`re selling investments or just looking for an investment to help your business grow, you`ll have a much harder time finding investors when favors and bribes are needed in your business environment or if your company has a bad reputation for corruption.
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