Ga offline met de app Player FM !
The SAP Foreign Corrupt Practices Act Enforcement Action
Manage episode 395832413 series 2783374
The award winning, Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode, Tom and Matt take a deep dive into the recent Foreign Corrupt Practices Act (FCPA) enforcement action involving the ERP software giant SAP.
The recent $220 million fine imposed on German software giant, SAP, for violations of the FCPA underscores the critical role of internal audits in maintaining corporate compliance. Despite having a comprehensive FCPA compliance program, SAP's lack of control over its subsidiaries led to bribery activities, a situation that Tom and Matt believe could have been prevented with a robust internal audit function. Fox emphasized the need for strong internal audits to identify and address issues within different parts of an organization. Similarly, Kelly, underscored the importance of internal audits in identifying and rectifying control lapses. To delve deeper into this topic and understand the implications of the SAP case, join Tom Fox and Matt Kelly on this episode of the Compliance into the Weeds.
Key Highlights
· The bribery schemes and geographic scope
· What is culture?
· Third parties and corruption risks
· The fine and penalty
· The comeback
· Lessons learned for the compliance professional
Resources
Matt on Radical Compliance
Tom
Tom on the FCPA Compliance and Ethics Blog
For more information on Ethico and a free White Paper on top compliance issues in 2024, click here.
Learn more about your ad choices. Visit megaphone.fm/adchoices
337 afleveringen
Manage episode 395832413 series 2783374
The award winning, Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode, Tom and Matt take a deep dive into the recent Foreign Corrupt Practices Act (FCPA) enforcement action involving the ERP software giant SAP.
The recent $220 million fine imposed on German software giant, SAP, for violations of the FCPA underscores the critical role of internal audits in maintaining corporate compliance. Despite having a comprehensive FCPA compliance program, SAP's lack of control over its subsidiaries led to bribery activities, a situation that Tom and Matt believe could have been prevented with a robust internal audit function. Fox emphasized the need for strong internal audits to identify and address issues within different parts of an organization. Similarly, Kelly, underscored the importance of internal audits in identifying and rectifying control lapses. To delve deeper into this topic and understand the implications of the SAP case, join Tom Fox and Matt Kelly on this episode of the Compliance into the Weeds.
Key Highlights
· The bribery schemes and geographic scope
· What is culture?
· Third parties and corruption risks
· The fine and penalty
· The comeback
· Lessons learned for the compliance professional
Resources
Matt on Radical Compliance
Tom
Tom on the FCPA Compliance and Ethics Blog
For more information on Ethico and a free White Paper on top compliance issues in 2024, click here.
Learn more about your ad choices. Visit megaphone.fm/adchoices
337 afleveringen
Alle afleveringen
×Welkom op Player FM!
Player FM scant het web op podcasts van hoge kwaliteit waarvan u nu kunt genieten. Het is de beste podcast-app en werkt op Android, iPhone en internet. Aanmelden om abonnementen op verschillende apparaten te synchroniseren.