Many accounts payable and procure-to-pay (P2P) departments fail to do any staff training regarding the Foreign Corrupt Practices Act (FCPA) compliance. They unfortunately believe it has nothing to do with accounts payable. Alas, they are wrong. These groups are the last set of eyes to look at a payment before it goes out the door; the last chance an organization has to stop a payment that could cause it untold nightmares.
Objectives of the Presentation
Explain why AP and P2P should look at all payments for possible FCPA violations
Identify key words to look for when reviewing payment documentation
Pinpoint questionable transactions that might be FCPA violations
Take the appropriate steps when a questionable transaction is found
Understand the severe ramifications of not complying with the Act
Identify situations that are considered violations based on real life examples
Why Should you Attend
The fallout from noncompliance can be pretty ugly. One company is reported to have spent hundreds of millions (yes, that´s millions) in lawyers and attorney´s fees, after they were found to be noncompliant. FCPA prohibits bribery of foreign government officials – and this bribery can come in many different forms. If your organization has done nothing to train its AP or P2P staff, this is one session you don´t want to miss.
The FCPA Act
Components of FCPA
What a company must do when it identifies a violation even if the DOJ or SEC isn´t aware of the violation
Who is covered by the Act