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Sarbanes-Oxley News & Developments
Coming Clean about BriberyBecause of their need to comply with Sarbox internal-controls rules, companies are spotting and reporting more violations of the Foreign Corrupt Practices Act.
> > Spurred by the Sarbanes-Oxley Act and the increasing likelihood of being caught bribing foreign officials, managers at increasing numbers of U.S. companies are voluntarily disclosing breaches of the Foreign Corrupt Practices Act.
Since the beginning of March, the Department of Justice has received 11 voluntary disclosures of either clear or potential violations of the Foreign Corrupt Practices Act (FCPA). The law bars people working at publicly traded companies from bribing foreign government officials or taking bribes from them.
Source: CFO
Published:2006-04-03
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