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Bribery and Corruption

Bribery and Corruption Navigating the Global Risks

Author: Richard A. Sibery; Brian P. Loughman
Publisher: John Wiley & Sons
ISBN: 9781118011362
Published In: November 2011
Format: Hardback , 432 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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A practical guide to understanding and counteracting accounting fraud around the world

As businesses continue to expand globally into new and emerging markets, bribery and corruption risks have increased exponentially. The Accountant's Guide to Bribery and Corruption Risks offers a comprehensive look at this growing problem, and at the Foreign Corrupt Practices Act (FCPA) and other international anti-bribery and corruption conventions. Presenting hypothetical examples of situations companies will face, along with practical solutions, the book offers detailed global guidance on a region and country-specific basis.

The FCPA prohibits US companies and their subsidiaries from bribing foreign officials, either directly or indirectly through intermediaries, for the purpose of obtaining or retaining business. It also requires companies to keep accurate records of all business transactions and maintain an effective system of internal accounting controls. Internationally, the Organization of Economic Cooperation and Development's (OECD's) anti-bribery convention has been adopted by 38 countries and creates legally binding standards related to bribery of foreign public officials.

Written by renowned accounting fraud experts Jeffrey Taylor, Richard A. Sibery, and Brian P. Loughman, and providing an introduction and overview of the Foreign Corrupt Practices Act (FCPA) and international bribery laws, The Accountant's Guide considers:

How to conduct FCPA risk assessments and investigations
How to consider FCPA specific financial controls
How to implement an FCPA compliance program and how to measure FCPA compliance

The risk of bribery and corruption continues to be an area of concern for companies around the world, but armed with The Accountant's Guide to Bribery and Corruption Risks, it is easier than ever to understand the challenges that exist and how to deal with them.

Foreword.

Chapter 1 Introduction.

Enforcement Trends.

Anti-Corruption Compliance Programs.

Remember the Purpose.

Chapter 2 Overview of FCPA.

Legislative History.

Overview and Key FCPA Statutory Elements.

Ancillary Statues.

Summary.

Chapter 3 The UK Bribery Act and International Bribery and Corruption Initiatives.

UK Bribery Act of 2010.

Global Anti-Corruption Initiatives.

Summary.

Chapter 4 Compliance Programs.

Goals of an Effective Anti-Corruption Compliance Program.

Accepted Standards and Guidance.

What Should an Anti-Corruption Program Include.

Summary.

Chapter 5 Policies and Procedures.

Bribery, Corruption and Fraud Prevention Policies.

Communication and Training.

Internal Financial Controls.

Summary.

Chapter 6 Risk Assessments.

Scoping the Risk Assessment.

Conducting the Risk Assessment.

Gap Analysis.

Reporting.

Documenting the Risk Assessment.

Summary.

Chapter 7: Monitoring.

Building an Anti-Corruption Monitoring Program.

Conducting the Anti-Corruption Compliance Audit.

Reporting the results.

Audits of Agents / Intermediaries.

Use of Data Analytics in Monitoring.

Summary.

Chapter 8 Anti-Corruption Due Diligence.

Current Transaction Market Perspectives.

The FCPA Due Diligence Regulatory Environment.

Why Is Anti-Corruption Due Diligence Significant?

Unique Considerations of Anti-Corruption Due Diligence.

What to Do When Violations Are Found During Anti-Corruption Due Diligence.

Summary.

Chapter 9 Investigations.

Trigger Events.

Triage.

Response.

Remediation.

Summary.

Chapter 10 Regional Considerations for Bribery and Corruption Risks.

Asia Pacific.

Europe.

India & South Asia.

Middle East.

Africa.

Latin America.

Chapter 11 Industry Considerations for Bribery and Corruption Risks.

Aerospace & Defense.

Automotive.

Construction & Real Estate.

Consumer Products.

Diversified Industrial.

Energy.

Financial Services.

Life Sciences.

Media & Entertainment.

Metals & Mining.

Retail & Wholesale.

Technology.

Transportation.

Acknowledgments.

About the Authors and Contributors.

Index.

About Ernst & Young

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