What is the FCPA?
The FCPA has two main provisions: • The Anti-Bribery Provisions, which prohibit companies, or their intermediaries, from making payments or offering anything of value to a “government official” for the purpose of influencing that official, or deriving an “improper advantage”. Note that the scope of who is considered to be a government official under the FCPA is quite broad and can include, for example, health care workers in countries where the government oversees the provision of health care. In addition, there is no materiality concept in assessing whether the amount offered or spent constitutes a bribe. • The Accounting Provisions, which require companies to maintain accurate books and records to reflect transactions with government officials, and to maintain an adequate system of internal controls over such transactions. Many executives likely believe that their company does not bribe government officials to win business; as a result, they think that the FCPA is not something they
