Competency 3- Assesment Acccb PDF

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Competency 3- Assessment Kenya McDole September 8, 2021 ACCB/543 Billy Berry

Competency 3- Assessment The Foreign Corrupt Practices Act ("FCPA"), for the most part, precludes the paying off of foreign officials. The FCPA also requires publicly traded companies to maintain accurate books and records and have a system of internal controls sufficient to provide reasonable assurances that transactions are executed. Assets are accounted for following management's authorization and recorded as necessary to permit the arrangement of financial statements incongruity with generally acknowledged accounting principles. Among the significant instances of such practices were the Lockheed bribery scandal, in which officials of aviation company Lockheed paid foreign officials in a few nations to support their organization's products, and the Bananagate scandal Chiquita Brands bribed the President of Honduras for more favorable governance policies. A "red flag" is an action or condition that improves the probability of a potential violation of law or company policy. Corporations and individuals may be subject to prosecution for corrupt payments even if they have no actual knowledge that bribes are being paid. As noted above, the FCPA purports to impose criminal sanctions on persons who pay money to third parties with a reckless disregard for circumstances that suggest the money is being used for immoral purposes. Thus, if an executive agrees to pay a consultant who in turn gives some of that money to a government official in exchange for official actions that benefit the corporation, the executive and the corporation may be targeted by the Department of Justice (DOJ) for violating the FCPA even absent actual knowledge of the corrupt payment. Whether the government believes that the company and its employees should be held liable for such indirect bribes largely depends on the

existence of circumstances that should have put the company on notice that corrupt payments were likely to occur. Foreign Corrupt Practices Act ("FCPA"): Generally, this law makes it a federal crime to guarantee, offer, or make a payoff, straightforwardly or in a roundabout way, to a foreign government official to get or hold business or secure an ill-advised business advantage. It likewise requires the U.S., what are more, nonU.S. organizations that exchange protections on U.S. stock trades to have exact books and records and to keep a sufficient arrangement of internal financial and accounting controls. A violation of the FCPA comprises of five "components." That is, an individual or association is guilty of disregarding the law if the public authority can demonstrate the presence of: 1. A payment, offer, approval, or guarantee to pay cash or anything of significant worth. 2. To a foreign government official (including a party official or administrator or a manager of a state-owned concern), or some other individual, realizing that the installment or guarantee will be given to a foreign official 3. With a destructive motive 4. For a purpose for: 1. influencing any demonstration or decision of that individual 2. Actuating such individual to do or discard any activity infringing upon his legal obligation 3. Getting an inappropriate benefit 4. Inciting such individual to capitalize on his leverage to influence an authority act or choice

b. In request to assist with acquiring or restraining business for or with, or guiding any business to, any individual. A covered individual or entity that infringes the FCPA can be dependent upon criminal indictment by the DOJ, which may prompt detainment or a fine, in expansion to punishments by the Securities and Exchange Commission (SEC) of up to $500,000 or the sum by which the element benefitted from the offense. Individuals face as long as five years' imprisonment for every infringement of the antibribery provisions of the FCPA or as long as 20 years for certain tenacious violations. Corporations and other business entities might be fined up to $2 million for every infringement, individuals however much $100,000.The most extraordinary fine might be expanded to $25 million for corporations and $5 million for individuals because of specific unshakable violations. Under the Alternative Fines Act, every criminal fine, including those forced under the FCPA, might be increased to double the addition acquired because of the offense or double the misfortune to some other person. Both the DOJ and the SEC might look for a court request ordering violation of the FCPA. The Foreign Corrupt Practices Act licenses prizes to whistleblowers who give unique data about payoffs paid to foreign government officials traded on open market organizations or U.S. individuals. Whistleblowers are qualified for a monetary award somewhere between 10% and 30% of all sanctions obtained by the U.S. government. These rewards are accessible to non-U.S. residents for bribes paid outside the United States. The informant cases can be documented anonymously and confidentially. These rewards are accessible to non-U.S. residents for bribes paid by the

United States externally. The whistleblower cases can be documented anonymously and confidentially. Whistleblowers assume a fundamental part in keeping institutions fair, moral, and safe, giving data to law enforcement for prosecutions and civil society for accountability to people in general. Whistleblowers are valuable assets for distinguishing extortion and defilement. The FCPA is proceeding with developing toward a world in which corruption does not go unrecognized or unpunished. Whistleblowers are vital to this cycle. Supporting protection and reward programs for courageous people who blow the whistle should be critical to anybody trying to execute a viable enemy of corruption laws, such as the Foreign Corrupt Practices Act ("FCPA"). Section 2 1. W-WHO (Stakeholders): Passion Entrepreneurial Sprit Open-mindedness 2. H-How (Guidelines): Innovation Quest for Excellence Responsibility

Which stakeholders did Traszka and the management of L'Oreal cater to? Why? Traszka and the executives at L'Oreal catered to their clients' cravings and wishes by meeting businesses that needed to satisfy their quantity and survey the customer requests. In the

present circumstance, the association was at risk for nearby and worldwide client concerns. For the request to play out an examination, the association should choose which items are high volume and not. Assurance of the marketing abilities of products allows the customer to choose when they lose cash and make changes. One more focal concern is on staff, as their prosperity assumes a critical part in L'Oreal's yield and ability to collect benefits and lose cash. When one department can not satisfy its amount, the company should understand that holding unproductive specialists is costly and wasteful. A further stakeholder in the circumstance is the Management Team, as it advances worker productivity. Keeping up with the abilities of the worker can assist them with forestalling unnecessary blunders. The overseeing chief in every case needs to gain proficiency with the qualities of offices to discover approaches to keep their specialties effective. What values did L'Oreal's management choose when they made the decision to fire Trzaska? The management will focus on safety and productivity as a fundamental viewpoint for guaranteeing that the positions are completed effectively but conveniently. When Traszka settled on some unacceptable choice, he could be tossed out on the grounds that he needed to restrict the time needed for the examination to be finished. In this situation, Traszka may be terminated for breach of the organization's ethical and legal laws and responsibilities, and the company may be disciplined. The company will then ensure that the new design meets the business requirements when determining and developing patents. Stage 3: How did the W.H. Framework assist you with dissecting the circumstance?

The W.H. System analyzes were new for me as I deciphered and put the subtleties into the setting interestingly. Fortunately, the material on page 22 was profoundly savvy over time perusing and assisted me with meeting the requirements. While picking how the executives break down their specializations for weak areas, the W.H. Framework is basic. The model, in part, likewise assisted with characterizing the division's areas and necessities. This additionally presents a suggestion of any area requiring work in the branches of organizations. I expect this approach reinforces the top and bottom management capacities of organizations. This way, if the association accurately carries out the system, it could have a beneficial impact: expanding usefulness for colleagues or laborers looking to gain ground inside the association. The W.H. Framework is critical to discover answers for blunder revision, client care improvement, and efficiency enhancement. Now that you have put together the framework, how does the W.H. Framework help managers with making business decisions? The Framework permits the management crew to comprehend the association's needs. While assessing regions that sometimes fall short for in every office, they can take a more coordinated and successful business choice. Essential to realizing will be affected by the most recent choice of the organizations. As a rule, I will review the issues and consider answers for the spaces concerned. What type of decisions would the W.H. Framework chart help you make as a manager? I accept that applying the W.H. Framework will help me choose the company regions for the week in my expected transporter and answer for upgrading and expanding division proficiency and worker productivity. As a W.H. Framework client, I ought to assess the product's viability to guarantee that it performs at the most significant execution levels. At the point when

the programming of the company is inadequate and the laborers are not effective, the company would lose a great deal of money. The program additionally assists me with evaluating if the administrations the company offers are worthwhile enough for the business to satisfy its necessities....