Oracle Corporation settled its second FCPA case in ten years. Oracle agreed to pay $23 million to resolve allegations that its subsidiaries in Turkey, India and the United Arab Emirates maintained slush funds to bribe foreign officials. Ten years ago in 2012, Oracle paid the SEC $2 million creating millions of dollars in off-the-books accounts at its India subsidiary. Oracle agreed to pay $8 million...
Compliance professionals are implementing their own monitoring and auditing strategies. Internal audit does not have the resources nor the time to assume responsibility for this function. If possible, internal audit may support, advise and assist in the monitoring and auditing functions. Frankly, a partnership between compliance and internal audit in this area is ideal but compliance cannot wait for internal audit to join the mission. ...
Companies will often rely on a network of distributors to help sell their products in emerging markets. From a business economics standpoint, engaging a distributor is often more cost efficient than investing in a sales force in a new market. As a result, companies may enter a new market by relying on distributors, and if successful, may invest in the future by establishing its own...
