Bribery and Corruption: Navigating the Global Risks

As businesses continue to expand globally into new and emerging markets, bribery and corruption risks have increased exponentially. Bribery and Corruption offers a comprehensive look at this growing problem, and at the Foreign Corrupt Practices Act (FCPA) and other international anti-bribery and corruption conventions. Presenting hypothetical examples of situations companies will face, along with practical solutions, the book offers detailed global guidance on a region and country-specific basis.

The FCPA prohibits US companies and their subsidiaries from bribing foreign officials, either directly or indirectly through intermediaries, for the purpose of obtaining or retaining business. It also requires companies to keep accurate records of all business transactions and maintain an effective system of internal accounting controls. Internationally, the Organization of Economic Cooperation and Development's (OECD's) anti-bribery convention has been adopted by 38 countries and creates legally binding standards related to bribery of foreign public officials.

Written by renowned accounting fraud experts Richard A. Sibery and Brian P. Loughman, and providing an introduction and overview of the Foreign Corrupt Practices Act (FCPA) and international bribery laws, Bribery and Corruption considers:

• How to conduct FCPA risk assessments and investigations
• How to consider FCPA specific financial controls
• How to implement an FCPA compliance program and how to measure FCPA compliance

The risk of bribery and corruption continues to be an area of concern for companies around the world, but armed with Bribery and Corruption, it is easier than ever to understand the challenges that exist and how to deal with them.

About the Authors

Brian Loughman is the Americas Leader of Ernst & Young LLP’s Fraud Investigation & Dispute Services (FIDS) practice, which helps organizations address complex issues related to fraud, regulatory compliance, and business disputes. The firm works with diverse global clients including some of the world’s largest companies and law firms, helping them conduct internal investigations, identify and investigate corruption and white-collar crime, assess fraud and compliance risk, calculate damages in disputes, and provide expert witness testimony.

He has extensive experience leading complex global investigations and remediation efforts. He has worked with many multinational organizations on a wide variety of investigative matters relating to anti-bribery and corruption, accounting fraud, corporate internal investigations, as well as internal controls assessment, remediation, and compliance matters. He frequently presents investigative findings to regulators, including the Securities and Exchange Commission and the Department of Justice.

Richard Sibery is the Americas Leader for Fraud and Investigations with Ernst & Young LLP’s FIDS practice. Richard has almost 20 years of experience advising clients and their outside counsel on a widerange of accounting matters, including bribery and corruption, fraud, corporate internal investigations and compliance matters. He has led a large number of international bribery and corruption projects, both investigative and preventative, across a wide range of industries. In addition to experience presenting his findings to the Department of Justice and the Securities and Exchange Commission, he has also written and spoken extensively on bribery and corruption.

Richard earned his BS in Economics from The Wharton School of the University of Pennsylvania, has a MS in Taxation from the Fordham University Graduate School of Business and a JD from Fordham Law School. He is a certified public accountant and a member of the Executive Committee of the American Institute of Certified Public Accountants’ (AICPA) Forensic and Valuation Services Section.