The Foreign Corrupt Practices Act was enacted by Congress to prohibit bribes to foreign governmental officials – and it also put in place laws to require an effective system of internal controls.
Recently acompany, Polycom and its subsidiary in China was in the news related to FCPA.Based on your independent research answer the following questions:
What happened that resulted in the news story?
What can you find about the specifics of the Company’s actions that led to this penalty?
Were there direct bribes involved in this activity?
Was there an issue related to “accounting records and internal controls?”